Foundations Investment Advisors LLC Has $798,000 Stock Position in Iron Mountain Incorporated $IRM

Foundations Investment Advisors LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 37.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,776 shares of the financial services provider’s stock after selling 4,737 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Iron Mountain were worth $798,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its holdings in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,860 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $169,922,000 after buying an additional 913,715 shares during the last quarter. Penobscot Investment Management Company Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at approximately $517,000. Steward Partners Investment Advisory LLC boosted its position in Iron Mountain by 1.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 513 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $10,093,000. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $736,590.92. Following the transaction, the executive vice president directly owned 73,081 shares in the company, valued at approximately $7,368,026.42. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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.

Wall Street Analyst Weigh In

Several brokerages have commented on IRM. JPMorgan Chase & Co. boosted their price target 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. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Barclays upped their price objective on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Iron Mountain Stock Performance

Shares of IRM opened at $89.38 on Wednesday. The firm has a market cap of $26.42 billion, a P/E ratio of 638.47 and a beta of 1.06. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38. The firm’s 50-day simple moving average is $101.57 and its 200 day simple moving average is $98.79.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business’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 forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be paid 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 3.9%. Iron Mountain’s dividend payout ratio is presently 650.94%.

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.