Richard W. Paul & Associates LLC Trims Stock Position in Iron Mountain Incorporated $IRM

Richard W. Paul & Associates LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the financial services provider’s stock after selling 742 shares during the period. Richard W. Paul & Associates LLC’s holdings in Iron Mountain were worth $277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cooper Financial Group increased its position in Iron Mountain by 3.7% during the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after buying an additional 113 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Iron Mountain by 2.3% during the second quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider’s stock valued at $585,000 after acquiring an additional 128 shares during the last quarter. NorthRock Partners LLC boosted its stake in shares of Iron Mountain by 2.6% during the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 131 shares during the last quarter. PFG Investments LLC increased its position in Iron Mountain by 0.6% during the 2nd quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 133 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its stake in Iron Mountain by 5.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 2,767 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.4%

Shares of IRM opened at $84.98 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’s fifty day moving average is $100.80 and its two-hundred day moving average is $98.52. The firm has a market cap of $25.12 billion, a PE ratio of 607.04 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company posted $1.13 EPS. The business’s quarterly 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. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company 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 dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is presently 650.94%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the transaction, the executive vice president directly owned 73,081 shares in the company, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,681 shares of company stock worth $22,265,632 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded 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 given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.83.

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.