Warm Springs Advisors Inc. Has $217,000 Stock Holdings in Iron Mountain Incorporated $IRM

Warm Springs Advisors Inc. trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 27.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,117 shares of the financial services provider’s stock after selling 783 shares during the quarter. Warm Springs Advisors Inc.’s holdings in Iron Mountain were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IRM. Stratos Wealth Partners LTD. grew its stake in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after buying an additional 118 shares in the last quarter. Allworth Financial LP lifted its stake in Iron Mountain by 1.6% in the first quarter. Allworth Financial LP now owns 65,378 shares of the financial services provider’s stock valued at $5,578,000 after acquiring an additional 1,028 shares during the last quarter. Cerity Partners LLC grew its position in shares of Iron Mountain by 3.8% in the 1st quarter. Cerity Partners LLC now owns 34,070 shares of the financial services provider’s stock valued at $2,931,000 after acquiring an additional 1,234 shares during the period. Diversify Wealth Management LLC grew its position in shares of Iron Mountain by 9.5% in the 1st quarter. Diversify Wealth Management LLC now owns 2,645 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 230 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Iron Mountain by 8.2% during the 1st quarter. New York State Common Retirement Fund now owns 206,074 shares of the financial services provider’s stock worth $17,731,000 after purchasing an additional 15,600 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Finally, 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. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $6,876,473.31. This trade represents a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 226,681 shares of company stock worth $22,265,632. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 0.3%

Shares of IRM stock opened at $100.79 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $125.38. The stock has a market cap of $29.77 billion, a P/E ratio of 719.99 and a beta of 1.06. The stock has a 50 day simple moving average of $100.94 and a 200 day simple moving average of $98.17.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $1.13 EPS. The firm’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. Analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 592.45%.

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.