Tectonic Advisors LLC Purchases 19,999 Shares of Iron Mountain Incorporated $IRM

Tectonic Advisors LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,375 shares of the financial services provider’s stock after purchasing an additional 19,999 shares during the period. Iron Mountain makes up about 0.8% of Tectonic Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Tectonic Advisors LLC owned about 0.05% of Iron Mountain worth $15,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Iron Mountain in the 2nd quarter valued at $51,000. Caitong International Asset Management Co. Ltd grew its stake in Iron Mountain by 111.7% in the second 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 during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Iron Mountain in the second quarter worth about $79,000. Elevation Point Wealth Partners LLC bought a new position in shares of Iron Mountain during the 2nd quarter valued at about $81,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $89,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Down 0.4%

IRM stock opened at $83.05 on Friday. The company has a market cap of $24.55 billion, a price-to-earnings ratio of 156.70 and a beta of 1.13. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $112.18. The business has a 50 day moving average price of $89.29 and a two-hundred day moving average price of $95.35.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 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 the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. 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 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company 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 dividend of $0.864 per share. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 4.2%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is presently 652.83%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRM. JPMorgan Chase & Co. lifted 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. Barclays upped their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.80.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $85.00, for a total value of $510,000.00. Following the completion of the sale, the executive vice president owned 61,081 shares in the company, valued at $5,191,885. This represents a 8.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,556 shares of company stock valued at $14,725,122 over the last quarter. 1.90% of the stock is currently owned by company insiders.

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.