Iron Mountain Incorporated $IRM Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 107.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,316 shares of the financial services provider’s stock after acquiring an additional 65,051 shares during the quarter. SG Americas Securities LLC’s holdings in Iron Mountain were worth $12,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC acquired a new position in Iron Mountain during the 1st quarter worth $26,000. Ramirez Asset Management Inc. purchased a new position in shares of Iron Mountain in the 1st quarter valued at about $34,000. Richards Merrill & Peterson Inc. acquired a new position in shares of Iron Mountain during the first quarter worth about $43,000. Zions Bancorporation National Association UT purchased a new stake in shares of Iron Mountain during the first quarter worth approximately $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in Iron Mountain in the second quarter valued at approximately $51,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 0.1%

Shares of IRM opened at $91.48 on Friday. The company’s 50 day simple moving average is $101.78 and its 200-day simple moving average is $98.79. The firm has a market cap of $27.04 billion, a PE ratio of 653.48 and a beta of 1.06. 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 data 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 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 analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $1.13 earnings per share. Iron Mountain’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. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced 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 is an increase from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.8%. Iron Mountain’s dividend payout ratio (DPR) is 650.94%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 7,306 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $100.82, for a total transaction of $736,590.92. Following the completion of the sale, the executive vice president directly owned 73,081 shares of the company’s stock, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 226,681 shares of company stock worth $22,265,632. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IRM. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Barclays increased their price target on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.83.

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.