Iron Mountain Incorporated $IRM Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,723 shares of the financial services provider’s stock after purchasing an additional 1,706 shares during the period. Candriam S.C.A.’s holdings in Iron Mountain were worth $7,357,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC purchased a new position in Iron Mountain during the 1st quarter worth approximately $26,000. Ramirez Asset Management Inc. acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $34,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Iron Mountain during the first quarter worth approximately $43,000. Zions Bancorporation National Association UT purchased a new position in shares of Iron Mountain during the first quarter worth approximately $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $51,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the subject 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 research note on Monday, October 20th. Jefferies Financial Group started coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. Barclays raised their price target on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock 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 stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Iron Mountain Stock Up 0.1%

NYSE IRM opened at $91.48 on Friday. The stock has a market capitalization of $27.04 billion, a P/E ratio of 653.48 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $125.38. The firm has a 50-day moving average price of $101.78 and a 200 day moving average price of $98.71.

Iron Mountain (NYSE:IRM) last released 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm’s quarterly 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. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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 represents a $3.46 dividend on an annualized basis and a yield of 3.8%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is 650.94%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,876,473.31. This represents a 8.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,681 shares of company stock worth $22,265,632 over the last 90 days. Insiders own 1.90% of the company’s stock.

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.