Nisa Investment Advisors LLC Increases Stake in Iron Mountain Incorporated $IRM

Nisa Investment Advisors LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 47.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 125,142 shares of the financial services provider’s stock after buying an additional 40,341 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Iron Mountain were worth $12,863,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Iron Mountain by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock worth $2,573,000 after buying an additional 1,286 shares during the period. Empowered Funds LLC boosted its holdings in Iron Mountain by 10.3% during the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP grew its position in Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock worth $2,129,000 after acquiring an additional 7,193 shares during the last quarter. Integrity Alliance LLC. bought a new position in Iron Mountain during the 1st quarter worth approximately $564,000. Finally, Focus Partners Wealth increased its stake in Iron Mountain by 22.4% in the 1st quarter. Focus Partners Wealth now owns 149,537 shares of the financial services provider’s stock worth $12,895,000 after purchasing an additional 27,353 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 2.1%

Shares of IRM stock opened at $89.16 on Friday. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 168.23 and a beta of 1.13. The stock has a fifty day moving average of $87.17 and a 200 day moving average of $94.66. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $112.18.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $1.13 EPS. The company’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. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, December 15th were paid a $0.864 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 3.9%. Iron Mountain’s payout ratio is currently 652.83%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of analyst reports. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Barclays upped their price target on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.80.

Insider Activity

In other news, CEO William L. Meaney sold 38,482 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total value of $3,200,547.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the transaction, the executive vice president owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,038 shares of company stock valued at $18,424,270 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.