Federated Hermes Inc. Purchases 152,981 Shares of Iron Mountain Incorporated $IRM

Federated Hermes Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 1,537.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,932 shares of the financial services provider’s stock after purchasing an additional 152,981 shares during the period. Federated Hermes Inc.’s holdings in Iron Mountain were worth $16,712,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Brown Advisory Inc. increased its stake in shares of Iron Mountain by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 12,885 shares of the financial services provider’s stock worth $1,322,000 after purchasing an additional 331 shares in the last quarter. Amundi grew its holdings in Iron Mountain by 45.5% during the second quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock valued at $159,457,000 after purchasing an additional 500,884 shares during the period. Royal Fund Management LLC grew its holdings in Iron Mountain by 9.4% during the second quarter. Royal Fund Management LLC now owns 14,560 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 1,248 shares during the period. Crescent Grove Advisors LLC increased its position in Iron Mountain by 1.5% in the second quarter. Crescent Grove Advisors LLC now owns 13,255 shares of the financial services provider’s stock worth $1,370,000 after buying an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Iron Mountain by 3.2% in the second quarter. Guggenheim Capital LLC now owns 12,605 shares of the financial services provider’s stock worth $1,293,000 after buying an additional 385 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $85.49 on Thursday. The company has a market cap of $25.27 billion, a PE ratio of 161.30 and a beta of 1.14. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $114.80. The stock’s 50 day simple moving average is $96.56 and its two-hundred day simple moving average is $97.33.

Iron Mountain (NYSE:IRM) last released 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. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities research analysts expect 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 will be paid on Tuesday, January 6th. Stockholders 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. This represents a $3.46 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s payout ratio is presently 592.45%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $85.00, for a total value of $510,000.00. Following the transaction, the executive vice president owned 61,081 shares of the company’s stock, valued at $5,191,885. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, December 1st. The shares were sold at an average price of $83.34, for a total value of $5,760,877.50. The disclosure for this sale is available in the SEC filing. Insiders sold 226,681 shares of company stock valued at $21,799,375 in the last quarter. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.