TIAA Trust National Association Makes New $323,000 Investment in Iron Mountain Incorporated $IRM

TIAA Trust National Association purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,145 shares of the financial services provider’s stock, valued at approximately $323,000.

Several other institutional investors have also recently made changes to their positions in IRM. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the first quarter valued at approximately $26,000. Ramirez Asset Management Inc. purchased a new position in shares of Iron Mountain during the 1st quarter worth $34,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Iron Mountain during the 1st quarter valued at $43,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Iron Mountain in the 2nd quarter worth $51,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Iron Mountain in the 1st quarter worth $46,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $100.52 on Thursday. The company has a market cap of $29.69 billion, a P/E ratio of 718.05 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $125.38. The firm’s fifty day moving average is $100.77 and its two-hundred day moving average is $98.15.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.75). Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders 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 yield of 3.4%. 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. Iron Mountain’s dividend payout ratio is presently 2,242.86%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $102.51, for a total transaction of $615,060.00. Following the completion of the transaction, the executive vice president directly owned 67,081 shares of the company’s stock, valued at $6,876,473.31. The trade was a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,681 shares of company stock worth $22,265,632 over the last ninety days. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on IRM shares. JPMorgan Chase & Co. cut their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Finally, Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Six research 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 stock has an average rating of “Moderate Buy” and an average target price of $116.83.

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.