Atlantic Union Bankshares Corp Acquires 909 Shares of Iron Mountain Incorporated $IRM

Atlantic Union Bankshares Corp boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,921 shares of the financial services provider’s stock after purchasing an additional 909 shares during the period. Atlantic Union Bankshares Corp’s holdings in Iron Mountain were worth $915,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IRM. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $26,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain in the 1st quarter valued at $34,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Iron Mountain in the second quarter worth $51,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Iron Mountain in the 1st quarter valued at $46,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IRM. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued 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. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.67.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the transaction, the executive vice president directly owned 67,081 shares in the company, valued at approximately $6,876,473.31. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $7,102,593.75. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 226,681 shares of company stock worth $22,265,632. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $104.18 on Friday. The company has a market cap of $30.77 billion, a price-to-earnings ratio of 744.19 and a beta of 1.06. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The business’s 50-day moving average is $101.18 and its two-hundred day moving average is $98.44.

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 net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. Iron Mountain’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 analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. 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 592.45%.

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.