Westpac Banking Corp Has $1.89 Million Stock Position in Iron Mountain Incorporated $IRM

Westpac Banking Corp grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 175.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,456 shares of the financial services provider’s stock after purchasing an additional 11,750 shares during the period. Westpac Banking Corp’s holdings in Iron Mountain were worth $1,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cooper Financial Group lifted its holdings in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after buying an additional 113 shares during the period. Diversify Advisory Services LLC increased its position in 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 valued at $572,000 after purchasing an additional 123 shares during the period. Fidelis Capital Partners LLC raised its holdings in 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 purchasing an additional 128 shares during the last quarter. NorthRock Partners LLC lifted its position 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 worth $440,000 after purchasing an additional 131 shares during the period. Finally, PFG Investments LLC boosted its stake in shares of Iron Mountain by 0.6% in the 2nd quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 133 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.9%

Shares of NYSE:IRM traded down $0.80 during midday trading on Monday, reaching $90.58. 67,903 shares of the company traded hands, compared to its average volume of 1,733,133. The firm’s fifty day moving average price is $101.78 and its two-hundred day moving average price is $98.85. The firm has a market capitalization of $26.77 billion, a price-to-earnings ratio of 648.45 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 earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The company’s quarterly 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. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced 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 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 3.8%. Iron Mountain’s dividend payout ratio (DPR) is presently 650.94%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group began coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. lifted their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Barclays upped their price target on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Six equities 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, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the 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 in the company, valued at $6,876,473.31. The trade was a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 226,681 shares of company stock worth $22,265,632. Insiders own 1.90% of the company’s stock.

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.