Safe Harbor Fiduciary LLC Sells 3,835 Shares of Iron Mountain Incorporated $IRM

Safe Harbor Fiduciary LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,191 shares of the financial services provider’s stock after selling 3,835 shares during the quarter. Iron Mountain accounts for about 1.6% of Safe Harbor Fiduciary LLC’s portfolio, making the stock its 17th largest position. Safe Harbor Fiduciary LLC’s holdings in Iron Mountain were worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $26,000. Ramirez Asset Management Inc. acquired a new position in shares of Iron Mountain during the first quarter worth $34,000. Zions Bancorporation National Association UT bought a new position in shares of Iron Mountain in the 1st quarter valued at $46,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Iron Mountain in the 2nd quarter valued at $51,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Iron Mountain by 111.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 343 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $86.20 on Thursday. The company’s 50 day moving average price is $99.93 and its 200-day moving average price is $98.28. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $125.38. The company has a market capitalization of $25.48 billion, a P/E ratio of 615.76 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping 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 0.66% and a negative return on equity of 146.80%. Iron Mountain’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is presently 650.94%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 7,306 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,681 shares of company stock worth $22,265,632 over the last three months. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. 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 target for the company. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Barclays increased their price objective on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $114.80.

About Iron Mountain

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.