Richmond Investment Services LLC Acquires Shares of 3,299 Iron Mountain Incorporated $IRM

Richmond Investment Services LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,299 shares of the financial services provider’s stock, valued at approximately $338,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Iron Mountain by 0.5% during the second quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider’s stock worth $4,827,445,000 after purchasing an additional 239,153 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Iron Mountain by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after buying an additional 37,154 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,625,808 shares of the financial services provider’s stock valued at $371,899,000 after buying an additional 138,329 shares during the period. Legal & General Group Plc grew its position in shares of Iron Mountain by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,283,276 shares of the financial services provider’s stock valued at $336,766,000 after buying an additional 99,278 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Iron Mountain by 14.7% during the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after acquiring an additional 366,134 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 0.6%

IRM stock opened at $86.20 on Thursday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 615.76 and a beta of 1.06. The firm’s 50-day moving average is $99.93 and its two-hundred day moving average is $98.28.

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

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is presently 650.94%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the sale, the executive vice president directly owned 67,081 shares in the company, valued at approximately $6,876,473.31. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 226,681 shares of company stock valued at $22,265,632. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on IRM. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lifted 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. Barclays boosted their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $114.80.

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.