Prosperity Consulting Group LLC Acquires Shares of 3,645 Iron Mountain Incorporated $IRM

Prosperity Consulting Group LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,645 shares of the financial services provider’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its stake in Iron Mountain by 7.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 62,028 shares of the financial services provider’s stock valued at $5,337,000 after buying an additional 4,422 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Iron Mountain by 0.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,126,012 shares of the financial services provider’s stock valued at $95,072,000 after purchasing an additional 3,512 shares during the last quarter. Allworth Financial LP grew its position in shares of Iron Mountain by 1.6% in the first quarter. Allworth Financial LP now owns 65,378 shares of the financial services provider’s stock valued at $5,578,000 after purchasing an additional 1,028 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Iron Mountain by 3.8% in the 1st quarter. Cerity Partners LLC now owns 34,070 shares of the financial services provider’s stock valued at $2,931,000 after buying an additional 1,234 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 2.7%

Shares of Iron Mountain stock opened at $100.52 on Thursday. The company has a market capitalization of $29.69 billion, a price-to-earnings ratio of 718.05 and a beta of 1.06. The firm’s 50-day moving average price is $100.77 and its two-hundred day moving average price is $98.15. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $125.38.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.75). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share 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 $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio is 2,242.86%.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the sale, the executive vice president directly owned 67,081 shares in the company, valued at approximately $6,876,473.31. This trade represents a 8.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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. Over the last 90 days, insiders sold 226,681 shares of company stock worth $22,265,632. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Barclays increased their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Iron Mountain 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.