American Century Companies Inc. Raises Holdings in Iron Mountain Incorporated $IRM

American Century Companies Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 55.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 745,266 shares of the financial services provider’s stock after purchasing an additional 266,150 shares during the period. American Century Companies Inc. owned 0.25% of Iron Mountain worth $76,442,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of IRM. PNC Financial Services Group Inc. boosted its stake in Iron Mountain by 11.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock worth $6,707,000 after purchasing an additional 6,937 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 913,715 shares during the period. Penobscot Investment Management Company Inc. acquired a new stake in Iron Mountain in the second quarter valued at $517,000. Steward Partners Investment Advisory LLC boosted its holdings in 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 worth $3,272,000 after buying an additional 513 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $10,093,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM stock opened at $86.20 on Thursday. The firm’s 50-day simple moving average is $99.93 and its 200-day simple moving average is $98.28. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $125.38. The firm has a market cap of $25.48 billion, a P/E ratio of 615.76 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 0.66% and a negative return on equity of 146.80%. Iron Mountain’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders 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 4.0%. The ex-dividend date is Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is currently 650.94%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Kidd sold 7,306 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the completion of the transaction, the executive vice president owned 73,081 shares in the company, valued at approximately $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,681 shares of company stock worth $22,265,632 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Barclays lifted their price target on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.80.

Iron Mountain 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.