2,328 Shares in Iron Mountain Incorporated $IRM Bought by Wealth Alliance LLC

Wealth Alliance LLC purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,328 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other large investors have also recently bought and sold shares of the business. Whittier Trust Co. boosted its position in shares of Iron Mountain by 3.4% during the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares in the last quarter. Cooper Financial Group lifted its stake in Iron Mountain by 3.7% in the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after buying an additional 113 shares during the period. Diversify Advisory Services LLC boosted its holdings in shares of Iron Mountain by 1.9% during the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after buying an additional 123 shares in the last quarter. Fidelis Capital Partners LLC grew its position in shares of Iron Mountain by 2.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider’s stock worth $585,000 after buying an additional 128 shares during the period. Finally, NorthRock Partners LLC increased its stake in shares of Iron Mountain by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 131 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IRM shares. Jefferies Financial Group assumed 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. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Barclays boosted their target price on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Iron Mountain Stock Up 0.1%

IRM stock opened at $91.48 on Friday. The firm has a market capitalization of $27.04 billion, a PE ratio of 653.48 and a beta of 1.06. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $125.38. The stock’s 50 day moving average is $101.78 and its 200-day moving average is $98.71.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. Iron Mountain’s revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors 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 an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.8%. Iron Mountain’s payout ratio is 650.94%.

Insider Activity

In other news, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the transaction, the executive vice president owned 73,081 shares in the company, valued at $7,368,026.42. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 226,681 shares of company stock worth $22,265,632. 1.90% of the stock is owned by corporate insiders.

About Iron Mountain

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.