Iron Mountain Incorporated (IRM) to Distribute Quarterly Dividend of $0.86 on October 2nd

Iron Mountain Incorporated (NYSE:IRM) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.864 per share by the financial services provider on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Iron Mountain has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 3 years. Iron Mountain has a dividend payout ratio of 148.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Iron Mountain to earn $5.97 per share next year, which means the company should continue to be able to cover its $3.45 annual dividend with an expected future payout ratio of 57.8%.

Iron Mountain Stock Down 3.9%

Shares of NYSE IRM opened at $122.14 on Friday. The stock has a market cap of $36.34 billion, a PE ratio of 87.24 and a beta of 1.20. Iron Mountain has a 52-week low of $77.77 and a 52-week high of $134.68. The business has a 50-day moving average price of $124.96 and a 200 day moving average price of $114.83.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total value of $4,725,761.42. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,725,761.42. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $126.70, for a total transaction of $760,200.00. Following the transaction, the executive vice president owned 113,507 shares in the company, valued at approximately $14,381,336.90. This trade represents a 5.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,786 shares of company stock worth $11,633,760 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently added to or reduced their stakes in the business. BDFS Capital LLC acquired a new stake in shares of Iron Mountain during the fourth quarter valued at $340,000. Allstate Corp raised its stake in Iron Mountain by 105.1% in the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock valued at $1,860,000 after purchasing an additional 11,492 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Iron Mountain by 103.4% in the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock valued at $5,939,000 after purchasing an additional 36,400 shares in the last quarter. Stevens Capital Management LP purchased a new position in Iron Mountain in the 4th quarter valued at about $1,262,000. Finally, Tectonic Advisors LLC boosted its stake in shares of Iron Mountain by 9.7% during the 4th quarter. Tectonic Advisors LLC now owns 162,777 shares of the financial services provider’s stock worth $13,502,000 after purchasing an additional 14,402 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.