Burling Wealth Partners LLC Sells 2,797 Shares of Iron Mountain Incorporated $IRM

Burling Wealth Partners LLC lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 18.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,730 shares of the financial services provider’s stock after selling 2,797 shares during the period. Burling Wealth Partners LLC’s holdings in Iron Mountain were worth $1,306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth about $26,000. Ramirez Asset Management Inc. bought a new position in shares of Iron Mountain during the first quarter valued at approximately $34,000. Richards Merrill & Peterson Inc. bought a new position in shares of Iron Mountain during the first quarter valued at approximately $43,000. Zions Bancorporation National Association UT purchased a new stake in shares of Iron Mountain in the first quarter worth approximately $46,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $51,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on IRM shares. Barclays increased their target price on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 7,306 shares of Iron Mountain 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 completion of the sale, the executive vice president owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. The trade was a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 226,681 shares of company stock worth $22,265,632. 1.90% of the stock is owned by insiders.

Iron Mountain Trading Down 6.9%

Shares of IRM stock opened at $91.29 on Friday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $125.38. The business’s fifty day simple moving average is $101.79 and its 200-day simple moving average is $98.69. The company has a market cap of $26.98 billion, a PE ratio of 652.12 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. 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.