Swedbank AB Sells 30,202 Shares of Iron Mountain Incorporated $IRM

Swedbank AB decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,858 shares of the financial services provider’s stock after selling 30,202 shares during the quarter. Swedbank AB’s holdings in Iron Mountain were worth $29,038,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. boosted its position in shares of Iron Mountain by 4.2% in the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after purchasing an additional 35,301 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Iron Mountain by 11.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after buying an additional 6,937 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after buying an additional 913,715 shares during the period. CW Advisors LLC increased its stake in Iron Mountain by 85.9% in the 2nd quarter. CW Advisors LLC now owns 54,950 shares of the financial services provider’s stock worth $5,636,000 after buying an additional 25,391 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. bought a new stake in Iron Mountain during the second quarter valued at about $517,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $85.00, for a total value of $510,000.00. Following the sale, the executive vice president owned 61,081 shares in the company, valued at $5,191,885. The trade was a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,681 shares of company stock worth $21,799,375 over the last three months. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IRM shares. Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. Barclays increased their price objective on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. 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, JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.80.

Iron Mountain Stock Performance

NYSE IRM opened at $80.47 on Friday. The stock has a 50 day moving average price of $91.46 and a 200-day moving average price of $96.00. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $112.18. The company has a market capitalization of $23.78 billion, a P/E ratio of 151.83 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Iron Mountain’s 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 analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business 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 $0.864 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is 652.83%.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.