B&I Capital AG Grows Position in Iron Mountain Incorporated $IRM

B&I Capital AG raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,655 shares of the financial services provider’s stock after acquiring an additional 1,995 shares during the period. Iron Mountain comprises approximately 2.7% of B&I Capital AG’s investment portfolio, making the stock its 11th largest holding. B&I Capital AG’s holdings in Iron Mountain were worth $8,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Financial Network Wealth Advisors LLC bought a new position in shares of Iron Mountain during the first quarter valued at about $26,000. Ramirez Asset Management Inc. bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $46,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Iron Mountain in the 2nd quarter worth approximately $51,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Iron Mountain by 111.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm’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 $6,876,473.31. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total value of $7,102,593.75. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 226,681 shares of company stock worth $22,265,632. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. increased their price target 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. Barclays raised their price objective 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $114.80.

Iron Mountain Stock Up 0.6%

NYSE IRM opened at $86.20 on Thursday. The company has a market cap of $25.48 billion, a PE ratio of 615.76 and a beta of 1.06. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38. The firm’s 50-day simple moving average is $99.93 and its two-hundred day simple moving average is $98.28.

Iron Mountain (NYSE:IRM) last posted 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. 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%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders 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 yield of 4.0%. 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 payout ratio is presently 650.94%.

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.