Iron Mountain Incorporated $IRM Shares Bought by Choreo LLC

Choreo LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,093 shares of the financial services provider’s stock after purchasing an additional 675 shares during the period. Choreo LLC’s holdings in Iron Mountain were worth $1,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in Iron Mountain by 11.9% during the second quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after acquiring an additional 6,937 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after purchasing an additional 913,715 shares during the period. Penobscot Investment Management Company Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter valued at approximately $517,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Iron Mountain by 1.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 513 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $10,093,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.2%

Shares of Iron Mountain stock opened at $86.37 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $124.98. The firm’s 50-day moving average price is $99.41 and its 200 day moving average price is $98.12. The firm has a market capitalization of $25.53 billion, a PE ratio of 616.97 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, beating 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 146.80% and a net margin of 0.66%.The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.864 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.46 annualized dividend and a yield of 4.0%. Iron Mountain’s dividend payout ratio is presently 650.94%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the completion of the sale, the executive vice president directly owned 67,081 shares in the company, valued at $6,876,473.31. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,681 shares of company stock valued at $22,265,632 in the last ninety days. Insiders own 1.90% of the company’s stock.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.