Rakuten Investment Management Inc. Takes $3.12 Million Position in Iron Mountain Incorporated $IRM

Rakuten Investment Management Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 30,578 shares of the financial services provider’s stock, valued at approximately $3,117,000.

A number of other institutional investors have also recently added to or reduced their stakes in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $2,573,000 after acquiring an additional 1,286 shares during the period. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP lifted its position in Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after purchasing an additional 7,193 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Iron Mountain by 12.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,382 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 609 shares during the period. Finally, GAMMA Investing LLC grew its position in Iron Mountain by 37.9% in the 2nd quarter. GAMMA Investing LLC now owns 5,476 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 1,504 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $93.59 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $112.18. The firm has a market cap of $27.66 billion, a P/E ratio of 176.59 and a beta of 1.13. The stock has a fifty day moving average price of $85.85 and a two-hundred day moving average price of $94.07.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’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. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were paid a $0.864 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.7%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio is presently 652.83%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the sale, the executive vice president directly owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 38,482 shares of Iron Mountain stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total transaction of $3,200,547.94. The SEC filing for this sale provides additional information. Insiders sold a total of 202,038 shares of company stock worth $18,424,270 over the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Barclays reaffirmed an “overweight” rating and set a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.40.

Iron Mountain Company 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.