35,200 Shares in Iron Mountain Incorporated $IRM Bought by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,200 shares of the financial services provider’s stock, valued at approximately $3,588,000.

A number of other institutional investors and hedge funds have also modified their holdings of IRM. Vanguard Group Inc. lifted its stake in Iron Mountain by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider’s stock valued at $4,827,445,000 after buying an additional 239,153 shares in the last quarter. State Street Corp raised its holdings in shares of Iron Mountain by 0.6% during the second quarter. State Street Corp now owns 16,809,643 shares of the financial services provider’s stock valued at $1,737,002,000 after acquiring an additional 104,524 shares during the last quarter. Invesco Ltd. lifted its position in shares of Iron Mountain by 50.6% in the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after acquiring an additional 1,440,629 shares in the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain in the second quarter worth approximately $419,457,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Iron Mountain by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,625,808 shares of the financial services provider’s stock worth $371,899,000 after purchasing an additional 138,329 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays restated an “overweight” rating and issued a $126.00 price objective on shares of Iron Mountain in a report on Tuesday, January 13th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $115.40.

Iron Mountain Stock Up 0.3%

IRM stock opened at $93.86 on Tuesday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $108.15. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 177.09 and a beta of 1.13. The business has a fifty day moving average of $85.95 and a two-hundred day moving average of $93.95.

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. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations 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 revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were paid a $0.864 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.7%. Iron Mountain’s payout ratio is presently 652.83%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 7,306 shares of Iron Mountain stock in a transaction 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 completion of the sale, the executive vice president directly owned 73,081 shares of the company’s stock, valued at $7,368,026.42. The trade was a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,038 shares of company stock worth $18,424,270. Company insiders own 1.90% of the company’s stock.

About Iron Mountain

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.