Intech Investment Management LLC Reduces Holdings in Iron Mountain Incorporated $IRM

Intech Investment Management LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 69.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 135,397 shares of the financial services provider’s stock after selling 313,364 shares during the period. Intech Investment Management LLC’s holdings in Iron Mountain were worth $13,888,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Cetera Investment Advisers raised its position in shares of Iron Mountain by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 169,452 shares of the financial services provider’s stock valued at $17,381,000 after buying an additional 709 shares during the period. SG Americas Securities LLC boosted its position in shares of Iron Mountain by 107.9% during the 2nd quarter. SG Americas Securities LLC now owns 125,316 shares of the financial services provider’s stock worth $12,854,000 after purchasing an additional 65,051 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Iron Mountain by 3.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 167,412 shares of the financial services provider’s stock valued at $17,171,000 after purchasing an additional 5,518 shares during the last quarter. Candriam S.C.A. raised its position in Iron Mountain by 2.4% in the second quarter. Candriam S.C.A. now owns 71,723 shares of the financial services provider’s stock valued at $7,357,000 after purchasing an additional 1,706 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Iron Mountain by 4.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 44,369 shares of the financial services provider’s stock worth $4,551,000 after purchasing an additional 2,010 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $91.48 on Friday. The company’s 50 day moving average price is $101.78 and its 200 day moving average price is $98.79. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 653.48 and a beta of 1.06. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be paid a $0.864 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 15th. Iron Mountain’s payout ratio is 650.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IRM shares. Barclays lifted their price objective on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.83.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on 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 directly owned 67,081 shares in the company, valued at $6,876,473.31. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,681 shares of company stock valued at $22,265,632 over the last ninety days. 1.90% of the stock is owned by company insiders.

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.