AE Wealth Management LLC Raises Position in Iron Mountain Incorporated $IRM

AE Wealth Management LLC lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,062 shares of the financial services provider’s stock after purchasing an additional 942 shares during the quarter. AE Wealth Management LLC’s holdings in Iron Mountain were worth $1,340,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain in the first quarter worth $26,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain in the first quarter valued at $34,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Iron Mountain in the 1st quarter worth about $43,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Iron Mountain during the 2nd quarter worth about $51,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Iron Mountain during the 1st quarter worth about $46,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Iron Mountain Price Performance

IRM stock opened at $98.35 on Thursday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $125.38. The business has a 50-day moving average price of $101.79 and a 200 day moving average price of $98.75. The company has a market capitalization of $29.07 billion, a P/E ratio of 702.54 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $1.13 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.5%. 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 payout ratio is presently 650.94%.

Insiders Place Their Bets

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

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.