Iron Mountain Incorporated $IRM Stake Trimmed by Burney Co.

Burney Co. lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,603 shares of the financial services provider’s stock after selling 17,206 shares during the period. Burney Co.’s holdings in Iron Mountain were worth $5,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Iron Mountain during the second quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd boosted its stake in Iron Mountain by 111.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 343 shares during the period. CYBER HORNET ETFs LLC purchased a new position in Iron Mountain during the 2nd quarter worth approximately $79,000. Elevation Point Wealth Partners LLC acquired a new stake in Iron Mountain during the 2nd quarter valued at $81,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Iron Mountain in the second quarter valued at $89,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

NYSE:IRM opened at $81.98 on Friday. The company has a market capitalization of $24.23 billion, a P/E ratio of 154.67 and a beta of 1.14. The stock’s 50 day moving average price is $91.01 and its 200 day moving average price is $95.83. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $112.18.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. 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 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 given a dividend of $0.864 per share. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 4.2%. Iron Mountain’s dividend payout ratio (DPR) is currently 652.83%.

Analysts Set New Price Targets

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

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s 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 directly owned 61,081 shares of the company’s stock, valued at approximately $5,191,885. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $83.34, for a total value of $5,760,877.50. The SEC filing for this sale provides additional information. Insiders sold 226,681 shares of company stock valued at $21,799,375 in the last ninety days. Insiders own 1.90% of the company’s stock.

Iron Mountain 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.