Alberta Investment Management Corp Has $4.61 Million Stake in Iron Mountain Incorporated $IRM

Alberta Investment Management Corp lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,900 shares of the financial services provider’s stock after selling 3,900 shares during the period. Alberta Investment Management Corp’s holdings in Iron Mountain were worth $4,605,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IRM. Vanguard Group Inc. boosted its position in shares of Iron Mountain by 0.5% during the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after buying an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Iron Mountain by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after buying an additional 37,154 shares during the last quarter. Invesco Ltd. increased its position in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after buying an additional 366,134 shares during the last quarter. Nuveen LLC purchased a new stake in Iron Mountain during the first quarter valued at about $192,231,000. Finally, JPMorgan Chase & Co. grew its stake in Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after buying an additional 311,494 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’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 value of $7,102,593.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 226,681 shares of company stock worth $22,265,632. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed 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. Barclays lifted their price target on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Iron Mountain Stock Up 0.1%

Shares of NYSE:IRM opened at $91.48 on Monday. The stock has a market capitalization of $27.04 billion, a P/E ratio of 653.48 and a beta of 1.06. The firm has a fifty day simple moving average of $101.78 and a two-hundred day simple moving average of $98.85. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s 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. On average, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share 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 paid a $0.864 dividend. 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 dividend on an annualized basis and a yield of 3.8%. Iron Mountain’s dividend payout ratio (DPR) is 650.94%.

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.