Iron Mountain Incorporated $IRM Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,960 shares of the financial services provider’s stock after purchasing an additional 15,225 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Iron Mountain were worth $10,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IRM. Norges Bank purchased a new stake in shares of Iron Mountain in the 2nd quarter worth about $419,457,000. Invesco Ltd. raised its position in Iron Mountain by 50.6% during the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after acquiring an additional 1,440,629 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $109,941,000. Prudential Financial Inc. grew its holdings in Iron Mountain by 44.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after buying an additional 601,290 shares during the last quarter. Finally, Amundi increased its position in Iron Mountain by 45.5% during the second quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock worth $159,457,000 after buying an additional 500,884 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were 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 directly owned 73,081 shares in the company, valued at $7,368,026.42. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 202,038 shares of company stock worth $18,424,270. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Down 0.8%

NYSE:IRM opened at $91.39 on Thursday. The company has a market cap of $27.01 billion, a P/E ratio of 172.44 and a beta of 1.13. The firm’s 50 day moving average is $86.48 and its two-hundred day moving average is $94.35. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $112.18.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, December 15th were issued a $0.864 dividend. The ex-dividend date was Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 3.8%. Iron Mountain’s payout ratio is 652.83%.

Analysts Set New Price Targets

IRM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group started coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Barclays reaffirmed an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.40.

About Iron Mountain

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.