Baird Financial Group Inc. Lowers Stake in Iron Mountain Incorporated $IRM

Baird Financial Group Inc. trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,670 shares of the financial services provider’s stock after selling 13,640 shares during the quarter. Baird Financial Group Inc.’s holdings in Iron Mountain were worth $4,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cooper Financial Group increased its position in shares of Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 113 shares during the last quarter. Fidelis Capital Partners LLC increased its position in Iron Mountain by 2.3% in the second quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider’s stock worth $585,000 after buying an additional 128 shares in the last quarter. PFG Investments LLC boosted its position in shares of Iron Mountain by 0.6% in the second quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 133 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Iron Mountain by 5.1% in the second quarter. Daymark Wealth Partners LLC now owns 2,767 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 135 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its holdings in Iron Mountain by 3.8% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 4,052 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 147 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

NYSE:IRM opened at $85.00 on Wednesday. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 160.38 and a beta of 1.14. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $114.88. The firm’s fifty day moving average is $96.89 and its two-hundred day moving average is $97.41.

Iron Mountain (NYSE:IRM) last released its quarterly 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 112.70% and a net margin of 2.40%.The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. Iron Mountain’s quarterly 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. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 4.1%. 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 dividend payout ratio is presently 650.94%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $85.00, for a total transaction of $510,000.00. Following the transaction, the executive vice president directly owned 61,081 shares of the company’s stock, valued at $5,191,885. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. The disclosure for this sale is available in the SEC filing. Insiders sold 226,681 shares of company stock valued at $21,799,375 in the last three months. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Barclays boosted their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.