Corrado Advisors LLC Grows Position in Iron Mountain Incorporated $IRM

Corrado Advisors LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 38.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,746 shares of the financial services provider’s stock after purchasing an additional 5,469 shares during the quarter. Corrado Advisors LLC’s holdings in Iron Mountain were worth $2,013,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Quent Capital LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Iron Mountain by 111.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 343 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Iron Mountain in the third quarter worth about $68,000. City Holding Co. acquired a new stake in shares of Iron Mountain in the third quarter valued at about $68,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at about $79,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IRM shares. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays reaffirmed an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a research note on Tuesday, January 13th. 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.40.

Iron Mountain Price Performance

Shares of IRM stock opened at $92.27 on Thursday. The firm has a market cap of $27.27 billion, a P/E ratio of 174.09 and a beta of 1.13. The firm has a fifty day moving average of $86.11 and a two-hundred day moving average of $93.90. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $108.15.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 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 analysts’ expectations of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th were issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Monday, December 15th. Iron Mountain’s dividend payout ratio is currently 652.83%.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $100.82, for a total transaction of $736,590.92. Following the completion of the sale, the executive vice president owned 73,081 shares of the company’s stock, valued at $7,368,026.42. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 202,038 shares of company stock worth $18,424,270. Insiders own 1.90% of the company’s stock.

Iron Mountain Company 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.