Bank of New York Mellon Corp Sells 80,916 Shares of Iron Mountain Incorporated $IRM

Bank of New York Mellon Corp lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,666,560 shares of the financial services provider’s stock after selling 80,916 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Iron Mountain worth $169,889,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of IRM. Quent Capital LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its position in Iron Mountain by 111.7% during 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 purchasing an additional 343 shares during the period. City Holding Co. purchased a new stake in Iron Mountain during the third quarter valued at approximately $68,000. First Horizon Corp bought a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $68,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Iron Mountain in the 2nd quarter worth approximately $79,000. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays restated an “overweight” rating and issued a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $115.40.

Iron Mountain Trading Down 0.9%

NYSE IRM opened at $92.18 on Friday. The stock has a market cap of $27.25 billion, a PE ratio of 173.93 and a beta of 1.13. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $108.15. The company’s 50-day moving average price is $86.45 and its 200-day moving average price is $93.85.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th were issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is 650.94%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president directly owned 55,081 shares in the company, valued at approximately $4,577,231.10. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 38,482 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total value of $3,200,547.94. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 194,732 shares of company stock valued at $17,687,679. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Company 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.