New York State Common Retirement Fund Cuts Holdings in Iron Mountain Incorporated $IRM

New York State Common Retirement Fund cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 12.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,074 shares of the financial services provider’s stock after selling 26,200 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Iron Mountain worth $18,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock valued at $2,573,000 after buying an additional 1,286 shares during the period. Empowered Funds LLC grew its position in shares of Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after buying an additional 537 shares during the last quarter. Woodline Partners LP grew its stake in Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock worth $2,129,000 after buying an additional 7,193 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Iron Mountain during the 2nd quarter valued at approximately $349,000. Finally, Ascent Group LLC acquired a new position in shares of Iron Mountain in the second quarter valued at about $697,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 0.9%

IRM opened at $92.18 on Monday. The business’s 50 day moving average is $86.45 and its two-hundred day moving average is $93.80. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $108.15. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 173.93 and a beta of 1.16.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $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 company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were paid a dividend of $0.864 per share. 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 annualized dividend and a dividend yield of 3.7%. Iron Mountain’s dividend payout ratio is presently 652.83%.

Insider Activity

In related news, CEO William L. Meaney sold 38,482 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total value of $3,200,547.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the sale, the executive vice president owned 55,081 shares in the company, valued at approximately $4,577,231.10. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,607 shares of company stock worth $9,970,025 over the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IRM. Barclays reiterated an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.40.

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.