Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stock Position in Iron Mountain Incorporated $IRM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 167,412 shares of the financial services provider’s stock after purchasing an additional 5,518 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Iron Mountain were worth $17,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in Iron Mountain in the first quarter worth $192,231,000. Contour Asset Management LLC acquired a new position in shares of Iron Mountain during the 1st quarter worth $122,801,000. Goldman Sachs Group Inc. increased its holdings in shares of Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Iron Mountain by 17.8% during the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock worth $177,377,000 after buying an additional 311,494 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays boosted their target price on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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 research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Iron Mountain Stock Performance

Iron Mountain stock opened at $91.48 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 653.48 and a beta of 1.06. The stock has a fifty day moving average of $101.78 and a two-hundred day moving average of $98.79.

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. The business 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 business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. Iron Mountain’s payout ratio is presently 650.94%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $100.82, for a total transaction of $736,590.92. Following the transaction, the executive vice president owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 226,681 shares of company stock valued at $22,265,632. Company insiders own 1.90% of the company’s stock.

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.