Iron Mountain (NYSE:IRM) EVP Sells $510,000.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $85.00, for a total value of $510,000.00. Following the transaction, the executive vice president owned 61,081 shares in the company, valued at approximately $5,191,885. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, November 3rd, Mark Kidd sold 6,000 shares of Iron Mountain stock. The shares were sold at an average price of $102.51, for a total value of $615,060.00.
• 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.

Iron Mountain Price Performance

NYSE IRM traded up $1.50 on Wednesday, reaching $84.27. The company had a trading volume of 1,453,685 shares, compared to its average volume of 1,793,327. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $121.23. The firm has a 50-day moving average of $98.55 and a 200-day moving average of $97.88. The firm has a market capitalization of $24.91 billion, a PE ratio of 159.00 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be given a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio is currently 592.45%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. grew its position in shares of Iron Mountain by 2.0% during the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 98 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Iron Mountain by 3.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 103 shares during the last quarter. Continuum Advisory LLC grew its position in Iron Mountain by 5.3% in the 3rd quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 104 shares during the last quarter. Natural Investments LLC increased its stake in shares of Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 107 shares during the period. Finally, Merit Financial Group LLC grew its holdings in Iron Mountain by 0.5% in the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock worth $2,032,000 after buying an additional 109 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group initiated 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 on the stock. 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. Finally, Barclays lifted 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, November 12th. Five 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 currently has an average rating of “Moderate Buy” and an average price target of $114.80.

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.