Iron Mountain Incorporated $IRM Shares Bought by CW Advisors LLC

CW Advisors LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 85.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,950 shares of the financial services provider’s stock after acquiring an additional 25,391 shares during the quarter. CW Advisors LLC’s holdings in Iron Mountain were worth $5,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Iron Mountain by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider’s stock worth $4,827,445,000 after purchasing an additional 239,153 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $366,210,000 after buying an additional 37,154 shares during the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $419,457,000. Charles Schwab Investment Management Inc. raised its stake in Iron Mountain by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,625,808 shares of the financial services provider’s stock worth $371,899,000 after acquiring an additional 138,329 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Iron Mountain by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,283,276 shares of the financial services provider’s stock worth $336,766,000 after acquiring an additional 99,278 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $84.28 on Friday. The company’s fifty day moving average price is $97.55 and its 200 day moving average price is $97.58. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $121.00. The company has a market capitalization of $24.91 billion, a PE ratio of 159.01 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be given a dividend of $0.864 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 592.45%.

Analyst Upgrades and Downgrades

IRM has been the subject of several research analyst reports. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays raised their target price 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 reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.80.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 7,306 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the sale, the executive vice president directly owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The SEC filing for this sale provides additional information. Insiders have sold 226,681 shares of company stock worth $21,799,375 in the last quarter. 1.90% of the stock is currently owned by company insiders.

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.