QRG Capital Management Inc. Sells 75,498 Shares of Iron Mountain Incorporated $IRM

QRG Capital Management Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 54.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,474 shares of the financial services provider’s stock after selling 75,498 shares during the quarter. QRG Capital Management Inc.’s holdings in Iron Mountain were worth $6,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Sei Investments Co. grew its stake in Iron Mountain by 4.2% during the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after buying an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Iron Mountain by 11.9% during the second quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after purchasing an additional 6,937 shares in the last quarter. Tectonic Advisors LLC lifted its stake in Iron Mountain by 15.6% during the third quarter. Tectonic Advisors LLC now owns 148,375 shares of the financial services provider’s stock worth $15,125,000 after purchasing an additional 19,999 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Iron Mountain by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 125,142 shares of the financial services provider’s stock valued at $12,863,000 after purchasing an additional 40,341 shares in the last quarter. Finally, CW Advisors LLC increased its stake in shares of Iron Mountain by 85.9% in the 2nd quarter. CW Advisors LLC now owns 54,950 shares of the financial services provider’s stock valued at $5,636,000 after purchasing an additional 25,391 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Barclays reiterated an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.40.

Iron Mountain Price Performance

NYSE IRM opened at $96.10 on Friday. The business has a 50 day simple moving average of $86.15 and a 200 day simple moving average of $94.26. The stock has a market capitalization of $28.41 billion, a P/E ratio of 181.32 and a beta of 1.13. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $112.18.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping 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 2.40% and a negative return on equity of 112.70%. Iron Mountain’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th were issued a $0.864 dividend. The ex-dividend date was Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 3.6%. Iron Mountain’s dividend payout ratio is currently 652.83%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total value of $3,200,547.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the transaction, the executive vice president owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,038 shares of company stock valued at $18,424,270 in the last three months. Insiders own 1.90% of the company’s stock.

Iron Mountain Profile

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.