Iron Mountain Incorporated $IRM Shares Purchased by Corrado Advisors LLC

Corrado Advisors LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 38.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,746 shares of the financial services provider’s stock after acquiring an additional 5,469 shares during the quarter. Corrado Advisors LLC’s holdings in Iron Mountain were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Mirae Asset Global Investments Co. Ltd. raised its stake in Iron Mountain by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,782 shares of the financial services provider’s stock valued at $5,177,000 after acquiring an additional 5,913 shares in the last quarter. Ballentine Partners LLC grew its position in Iron Mountain by 3.9% in the 3rd quarter. Ballentine Partners LLC now owns 7,160 shares of the financial services provider’s stock valued at $730,000 after buying an additional 271 shares in the last quarter. Truist Financial Corp increased its stake in Iron Mountain by 6.3% during the 3rd quarter. Truist Financial Corp now owns 44,918 shares of the financial services provider’s stock valued at $4,579,000 after buying an additional 2,676 shares during the period. Hutchens & Kramer Investment Management Group LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth about $217,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,040 shares of the financial services provider’s stock worth $3,986,000 after acquiring an additional 1,054 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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 report on Thursday, November 6th. Barclays reissued an “overweight” rating and issued a $126.00 price objective on shares of Iron Mountain in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.40.

Iron Mountain Stock Up 0.6%

Shares of NYSE IRM opened at $92.27 on Thursday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $108.15. The company has a market cap of $27.27 billion, a price-to-earnings ratio of 174.09 and a beta of 1.13. The business has a fifty day simple moving average of $86.11 and a 200-day simple moving average of $93.90.

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. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were issued a $0.864 dividend. The ex-dividend date was 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 3.7%. Iron Mountain’s dividend payout ratio is currently 652.83%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total transaction of $498,600.00. Following the transaction, the executive vice president owned 55,081 shares in the company, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 38,482 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.17, for a total value of $3,200,547.94. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 202,038 shares of company stock valued at $18,424,270. 1.90% of the stock is currently owned by insiders.

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.