Vestmark Advisory Solutions Inc. Makes New Investment in Iron Mountain Incorporated $IRM

Vestmark Advisory Solutions Inc. purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,644 shares of the financial services provider’s stock, valued at approximately $476,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whittier Trust Co. raised its stake in shares of Iron Mountain by 3.4% during the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares during the period. Cooper Financial Group increased its holdings in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 113 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Iron Mountain by 3.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 118 shares during the period. Diversify Advisory Services LLC boosted its holdings in Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 123 shares during the period. Finally, NorthRock Partners LLC increased its holdings in shares of Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 131 shares during the period. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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 research note on Wednesday, October 8th. Barclays raised their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.67.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.75, for a total value of $7,102,593.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,681 shares of company stock valued at $22,265,632 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 1.2%

IRM opened at $101.09 on Wednesday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $125.38. The business’s 50-day moving average price is $101.62 and its 200-day moving average price is $98.75. The company has a market cap of $29.88 billion, a P/E ratio of 722.12 and a beta of 1.06.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors 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 is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a dividend yield of 3.4%. Iron Mountain’s payout ratio is presently 650.94%.

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.