Federated Hermes Inc. Has $16.71 Million Stock Position in Iron Mountain Incorporated $IRM

Federated Hermes Inc. increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1,537.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,932 shares of the financial services provider’s stock after buying an additional 152,981 shares during the period. Federated Hermes Inc. owned 0.06% of Iron Mountain worth $16,712,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in Iron Mountain by 11.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after buying an additional 6,937 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Iron Mountain by 86.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after buying an additional 913,715 shares during the last quarter. CW Advisors LLC boosted its position in shares of Iron Mountain by 85.9% in the second quarter. CW Advisors LLC now owns 54,950 shares of the financial services provider’s stock valued at $5,636,000 after acquiring an additional 25,391 shares during the period. Penobscot Investment Management Company Inc. acquired a new stake in shares of Iron Mountain in the second quarter worth $517,000. Finally, Steward Partners Investment Advisory LLC increased its position 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 acquiring an additional 513 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Monday, December 1st. The stock was sold at an average price of $85.00, for a total value of $510,000.00. Following the completion of the transaction, the executive vice president owned 61,081 shares in the company, valued at approximately $5,191,885. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $83.34, for a total value of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 226,681 shares of company stock valued at $21,799,375. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

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

Iron Mountain Trading Up 0.5%

IRM stock opened at $85.49 on Thursday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $114.80. The business’s 50 day moving average is $96.56 and its 200-day moving average is $97.33. The firm has a market cap of $25.27 billion, a P/E ratio of 161.30 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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. 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 period last year, the business earned $1.13 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.864 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s payout ratio is currently 592.45%.

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.