Burney Co. Decreases Stock Holdings in Iron Mountain Incorporated $IRM

Burney Co. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 25.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,603 shares of the financial services provider’s stock after selling 17,206 shares during the period. Burney Co.’s holdings in Iron Mountain were worth $5,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. increased its holdings in shares of Iron Mountain by 4.2% in the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock valued at $90,783,000 after acquiring an additional 35,301 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Iron Mountain by 11.9% in the second 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. increased its stake in 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 valued at $169,922,000 after purchasing an additional 913,715 shares during the last quarter. CW Advisors LLC raised its holdings in shares of Iron Mountain by 85.9% during the second quarter. CW Advisors LLC now owns 54,950 shares of the financial services provider’s stock worth $5,636,000 after purchasing an additional 25,391 shares during the period. Finally, Penobscot Investment Management Company Inc. bought a new position in shares of Iron Mountain in the 2nd quarter worth about $517,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 7,306 shares of Iron Mountain stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the transaction, the executive vice president owned 73,081 shares of the company’s stock, valued at $7,368,026.42. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’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 transaction of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,681 shares of company stock worth $21,799,375 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Iron Mountain Price Performance

IRM opened at $81.98 on Friday. The business has a 50 day moving average price of $91.01 and a two-hundred day moving average price of $95.83. The company has a market capitalization of $24.23 billion, a price-to-earnings ratio of 154.67 and a beta of 1.14. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $112.18.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal 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 issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 4.2%. 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 currently 652.83%.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.