MASTERINVEST Kapitalanlage GmbH Acquires Shares of 18,437 Iron Mountain Incorporated $IRM

MASTERINVEST Kapitalanlage GmbH acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,437 shares of the financial services provider’s stock, valued at approximately $1,891,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Iron Mountain by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider’s stock valued at $4,827,445,000 after acquiring an additional 239,153 shares during the period. State Street Corp lifted its holdings in Iron Mountain by 0.6% during the second quarter. State Street Corp now owns 16,809,643 shares of the financial services provider’s stock valued at $1,737,002,000 after purchasing an additional 104,524 shares in the last quarter. Invesco Ltd. grew its position in shares of Iron Mountain by 50.6% in the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after purchasing an additional 1,440,629 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Iron Mountain by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after purchasing an additional 37,154 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Iron Mountain during the second quarter worth about $419,457,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In related news, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,681 shares of company stock worth $21,799,375. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IRM. JPMorgan Chase & Co. raised their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. 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. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Barclays increased 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, November 12th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $114.80.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $83.29 on Friday. The stock’s 50 day simple moving average is $95.81 and its 200-day simple moving average is $97.17. The stock has a market cap of $24.62 billion, a P/E ratio of 157.16 and a beta of 1.14. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $113.57.

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, beating the consensus estimate of $1.29 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business 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. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 4.1%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is presently 592.45%.

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.