Iron Mountain Incorporated $IRM Shares Sold by Chicago Capital LLC

Chicago Capital LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,016 shares of the financial services provider’s stock after selling 13,620 shares during the period. Chicago Capital LLC’s holdings in Iron Mountain were worth $8,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at about $51,000. Caitong International Asset Management Co. Ltd increased its holdings in 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 buying an additional 343 shares during the last quarter. City Holding Co. acquired a new stake in Iron Mountain during the third quarter valued at approximately $68,000. CYBER HORNET ETFs LLC bought a new position in Iron Mountain during the 2nd quarter worth approximately $79,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Iron Mountain in the 2nd quarter worth approximately $81,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 0.6%

Iron Mountain stock opened at $83.74 on Tuesday. The firm has a 50-day moving average price of $88.40 and a two-hundred day moving average price of $94.98. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $112.18. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 158.01 and a beta of 1.13.

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, topping the consensus estimate 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm posted $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. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be paid 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 dividend yield of 4.1%. The ex-dividend date is Monday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 652.83%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Kidd sold 7,306 shares of the company’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 completion of the sale, the executive vice president owned 73,081 shares of the company’s stock, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 157,556 shares of company stock valued at $14,725,122 in the last quarter. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.