AGF Management Ltd. Takes $819,000 Position in Iron Mountain Incorporated $IRM

AGF Management Ltd. acquired a new position in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,980 shares of the financial services provider’s stock, valued at approximately $819,000.

Several other large investors have also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC bought a new position in shares of Iron Mountain during the 1st quarter worth about $26,000. Ramirez Asset Management Inc. acquired a new stake in Iron Mountain during the first quarter worth about $34,000. Richards Merrill & Peterson Inc. acquired a new stake in Iron Mountain during the first quarter worth about $43,000. Zions Bancorporation National Association UT acquired a new position in Iron Mountain in the 1st quarter valued at approximately $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Iron Mountain in the 2nd quarter valued at approximately $51,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRM has been the topic of a number of research reports. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group began 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. Barclays increased their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lifted their target price 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, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Iron Mountain Price Performance

Shares of IRM opened at $101.09 on Wednesday. The company has a market capitalization of $29.88 billion, a P/E ratio of 722.12 and a beta of 1.06. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $125.38. The business’s 50 day simple moving average is $101.62 and its 200-day simple moving average is $98.75.

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 the consensus estimate of $1.29 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, sell-side analysts anticipate 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. Investors of record on Monday, December 15th will be given a dividend of $0.864 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a yield of 3.4%. Iron Mountain’s dividend payout ratio is currently 650.94%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the completion of the sale, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. This trade represents a 8.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,681 shares of company stock worth $22,265,632. Insiders own 1.90% of the company’s stock.

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.