Iron Mountain Incorporated $IRM Stake Raised by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 47,064,887 shares of the financial services provider’s stock after purchasing an additional 239,153 shares during the period. Vanguard Group Inc. owned 0.16% of Iron Mountain worth $4,827,445,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at $26,000. Ramirez Asset Management Inc. bought a new position in Iron Mountain during the first quarter valued at approximately $34,000. Richards Merrill & Peterson Inc. acquired a new stake in Iron Mountain in the first quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Iron Mountain in the second quarter valued at approximately $51,000. Finally, Zions Bancorporation National Association UT bought a new stake in Iron Mountain in the first quarter worth approximately $46,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays boosted their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Jefferies Financial Group began coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the transaction, the executive vice president directly owned 67,081 shares in the company, valued at approximately $6,876,473.31. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total value of $7,102,593.75. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 226,681 shares of company stock valued at $22,265,632. Company insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $86.78 on Thursday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $125.38. The firm has a market capitalization of $25.65 billion, a PE ratio of 619.91 and a beta of 1.06. The company’s fifty day moving average price is $101.35 and its two-hundred day moving average price is $98.70.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 4.0%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio is presently 650.94%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.