Iron Mountain Incorporated $IRM Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 8.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 60,870 shares of the financial services provider’s stock after buying an additional 4,694 shares during the quarter. ProShare Advisors LLC’s holdings in Iron Mountain were worth $6,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain in the first quarter valued at $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 stake in shares of Iron Mountain in the first quarter valued at about $43,000. Zions Bancorporation National Association UT purchased a new stake in Iron Mountain during the first quarter worth about $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Iron Mountain during the second quarter worth about $51,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 7,306 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the sale, the executive vice president directly owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. This trade represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,681 shares of company stock worth $22,265,632. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Down 6.9%

IRM opened at $91.29 on Friday. The firm has a market cap of $26.98 billion, a P/E ratio of 652.12 and a beta of 1.06. The business’s fifty day simple moving average is $101.79 and its 200 day simple moving average is $98.69. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38.

Iron Mountain (NYSE:IRM) last released its 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. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm’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 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be issued a $0.864 dividend. This is a boost 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 yield of 3.8%. Iron Mountain’s payout ratio is presently 650.94%.

Wall Street Analyst Weigh In

IRM has been the topic of several research analyst reports. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays boosted their target price on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. boosted 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Iron Mountain 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.