Iron Mountain Incorporated $IRM Shares Acquired by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,369 shares of the financial services provider’s stock after acquiring an additional 2,010 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Iron Mountain were worth $4,551,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the transaction, the executive vice president owned 67,081 shares of the company’s stock, valued at approximately $6,876,473.31. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 226,681 shares of company stock valued at $22,265,632. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

NYSE:IRM opened at $91.48 on Friday. The stock has a market cap of $27.04 billion, a PE ratio of 653.48 and a beta of 1.06. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The stock’s 50-day moving average is $101.78 and its two-hundred day moving average is $98.79.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.29 by $0.03. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the company posted $1.13 earnings per share. 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 research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.864 per share. 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. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.8%. Iron Mountain’s dividend payout ratio (DPR) is 650.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on IRM. Barclays increased their price objective on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.