National Pension Service Raises Stock Position in Iron Mountain Incorporated $IRM

National Pension Service increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 476,161 shares of the financial services provider’s stock after purchasing an additional 3,240 shares during the quarter. National Pension Service’s holdings in Iron Mountain were worth $48,840,000 at the end of the most recent quarter.

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

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the business’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 completion of the sale, the executive vice president directly owned 67,081 shares of the company’s stock, valued at $6,876,473.31. The trade was a 8.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, November 3rd. The stock was 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. Insiders sold 226,681 shares of company stock worth $22,265,632 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Down 6.9%

Shares of Iron Mountain stock opened at $91.29 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The business’s fifty day moving average is $101.79 and its two-hundred day moving average is $98.69. The firm has a market cap of $26.98 billion, a PE ratio of 652.12 and a beta of 1.06.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is currently 650.94%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IRM. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. 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 report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.