Mark Kidd Sells 6,000 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) 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 sale, the executive vice president directly owned 67,081 shares in the company, valued at $6,876,473.31. This trade represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Mark Kidd also recently made the following trade(s):

• On Friday, October 31st, Mark Kidd sold 7,306 shares of Iron Mountain stock. The stock was sold at an average price of $100.82, for a total value of $736,590.92.
• On Tuesday, September 2nd, Mark Kidd sold 6,000 shares of Iron Mountain stock. The shares were sold at an average price of $91.05, for a total value of $546,300.00.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $100.79 on Friday. The stock’s 50-day moving average is $100.94 and its 200 day moving average is $98.17. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $125.38. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of 719.99 and a beta of 1.06.

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

Iron Mountain Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 3.4%. Iron Mountain’s dividend payout ratio is 592.45%.

Institutional Trading of Iron Mountain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain in the 1st quarter valued at $26,000. Ramirez Asset Management Inc. bought a new position in Iron Mountain during the 1st quarter valued at $34,000. Wayfinding Financial LLC purchased a new position in Iron Mountain during the 1st quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. purchased a new position in Iron Mountain during the 1st quarter worth $43,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IRM. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Finally, Barclays upped their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.67.

About Iron Mountain

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.