Welch & Forbes LLC Sells 9,946 Shares of Iron Mountain Incorporated $IRM

Welch & Forbes LLC trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 658,992 shares of the financial services provider’s stock after selling 9,946 shares during the period. Welch & Forbes LLC owned 0.22% of Iron Mountain worth $67,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IRM. NorthCrest Asset Manangement LLC boosted its stake in Iron Mountain by 3.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 103 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Iron Mountain by 5.3% during the 3rd quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 104 shares during the period. Natural Investments LLC boosted its holdings in Iron Mountain by 3.1% in the 3rd quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after buying an additional 107 shares during the period. Merit Financial Group LLC raised its stake in Iron Mountain by 0.5% during the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock valued at $2,032,000 after purchasing an additional 109 shares during the period. Finally, Cooper Financial Group grew its stake in Iron Mountain by 3.7% during the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 113 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IRM. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Barclays reiterated an “overweight” rating and set a $126.00 price objective on shares of Iron Mountain in a report on Tuesday, January 13th. 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 report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. 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, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $115.40.

Iron Mountain Price Performance

Shares of IRM stock opened at $92.18 on Friday. The stock’s 50-day moving average is $86.45 and its 200 day moving average is $93.85. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $108.15. The company has a market cap of $27.25 billion, a P/E ratio of 173.93 and a beta of 1.13.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors 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 was Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a yield of 3.7%. Iron Mountain’s dividend payout ratio (DPR) is 650.94%.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares in the company, valued at approximately $4,577,231.10. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 194,732 shares of company stock worth $17,687,679. 1.90% of the stock is 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.