Iron Mountain Incorporated $IRM Shares Sold by Andra AP fonden

Andra AP fonden cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 245,900 shares of the financial services provider’s stock after selling 28,900 shares during the quarter. Andra AP fonden owned about 0.08% of Iron Mountain worth $25,222,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price 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. Barclays increased their price target 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. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $116.83.

Insider Activity

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.51, for a total transaction 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. The trade was a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,681 shares of company stock valued at $22,265,632 in the last 90 days. 1.90% of the stock is owned by company insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $100.52 on Thursday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $125.38. The firm’s 50-day moving average is $100.77 and its two-hundred day moving average is $98.15. The stock has a market capitalization of $29.69 billion, a P/E ratio of 718.05 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.75). 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 for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s 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. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm 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 3.4%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. Iron Mountain’s payout ratio is 2,242.86%.

Iron Mountain Company 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.