National Pension Service Raises Stock Position in Iron Mountain Incorporated $IRM

National Pension Service raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 476,161 shares of the financial services provider’s stock after acquiring an additional 3,240 shares during the period. National Pension Service owned approximately 0.16% of Iron Mountain worth $48,840,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its position in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 1,860 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares during the period. Penobscot Investment Management Company Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter worth about $517,000. Steward Partners Investment Advisory LLC increased its stake in shares of Iron Mountain by 1.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 513 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Iron Mountain during the second quarter valued at $10,093,000. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the sale, the executive vice president directly owned 67,081 shares of the company’s stock, valued at $6,876,473.31. This represents a 8.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total value of $7,102,593.75. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 226,681 shares of company stock valued at $22,265,632. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $91.29 on Friday. The stock has a market capitalization of $26.98 billion, a PE ratio of 652.12 and a beta of 1.06. The company has a 50 day moving average price of $101.79 and a 200-day moving average price of $98.69. 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 released 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors 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 3.8%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is presently 650.94%.

Wall Street Analyst Weigh In

IRM has been the topic of several analyst reports. Zacks Research raised 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. Jefferies Financial Group started coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Barclays increased their price objective on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Iron Mountain Company 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.