Verdence Capital Advisors LLC Raises Stake in Iron Mountain Incorporated $IRM

Verdence Capital Advisors LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 208.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,732 shares of the financial services provider’s stock after buying an additional 14,015 shares during the period. Verdence Capital Advisors LLC’s holdings in Iron Mountain were worth $2,207,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock worth $2,573,000 after purchasing an additional 1,286 shares in the last quarter. Empowered Funds LLC grew its stake in Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 537 shares during the last quarter. Woodline Partners LP increased its holdings in Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after acquiring an additional 7,193 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Iron Mountain by 2.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,250 shares of the financial services provider’s stock worth $5,059,000 after acquiring an additional 1,164 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Iron Mountain in the second quarter valued at about $285,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $96.10 on Tuesday. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 181.32 and a beta of 1.13. The company has a 50 day moving average price of $86.03 and a 200 day moving average price of $94.18. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $112.18.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $1.13 EPS. The business’s revenue for the quarter 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 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is presently 652.83%.

Insider Activity at Iron Mountain

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 transaction, the executive vice president directly owned 73,081 shares of the company’s stock, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total value of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,038 shares of company stock worth $18,424,270 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

IRM has been the subject of several research reports. 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 price objective for the company. JPMorgan Chase & Co. raised their price target on 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 report on Wednesday, October 8th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Barclays reissued an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. 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, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $115.40.

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.