Swedbank AB Sells 30,202 Shares of Iron Mountain Incorporated $IRM

Swedbank AB reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,858 shares of the financial services provider’s stock after selling 30,202 shares during the period. Swedbank AB owned 0.10% of Iron Mountain worth $29,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $419,457,000. Invesco Ltd. raised its stake in Iron Mountain by 50.6% during the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after buying an additional 1,440,629 shares during the last quarter. Contour Asset Management LLC bought a new stake in Iron Mountain in the first quarter worth $122,801,000. Vontobel Holding Ltd. purchased a new stake in shares of Iron Mountain in the third quarter worth $109,941,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after acquiring an additional 913,715 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $100.82, for a total transaction of $736,590.92. Following the sale, the executive vice president directly owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. This represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,681 shares of company stock worth $21,799,375 over the last three months. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group began coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.80.

Iron Mountain Stock Down 0.4%

Shares of Iron Mountain stock opened at $80.47 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $112.18. The company’s 50 day moving average is $91.46 and its 200 day moving average is $96.00. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 151.83 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS 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. Shareholders of record on Monday, December 15th will be issued a $0.864 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is currently 652.83%.

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.