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

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 17.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,960 shares of the financial services provider’s stock after acquiring 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 also recently made changes to their positions in IRM. Versant Capital Management Inc boosted its stake in shares of Iron Mountain by 540.6% in the third quarter. Versant Capital Management Inc now owns 2,428 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 2,049 shares during the period. Quent Capital LLC purchased a new position in Iron Mountain in the 3rd quarter valued at about $27,000. Nordea Investment Management AB grew its stake in shares of Iron Mountain by 7.1% during the third quarter. Nordea Investment Management AB now owns 68,437 shares of the financial services provider’s stock valued at $6,915,000 after acquiring an additional 4,523 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Iron Mountain by 11.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,856 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Iron Mountain by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 934,752 shares of the financial services provider’s stock worth $95,289,000 after acquiring an additional 10,338 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRM. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock 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. Barclays reiterated an “overweight” rating and issued a $126.00 price target on shares of Iron Mountain in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.40.

Iron Mountain Stock Performance

NYSE:IRM opened at $91.39 on Thursday. The stock has a market cap of $27.01 billion, a price-to-earnings ratio of 172.44 and a beta of 1.13. The business has a fifty day moving average of $86.48 and a 200-day moving average of $94.35. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $112.18.

Iron Mountain (NYSE:IRM) last released its earnings results 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 firm had revenue of $1.75 billion for 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%. Iron Mountain’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were given 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 was Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.8%. Iron Mountain’s payout ratio is 652.83%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the transaction, the executive vice president owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 202,038 shares of company stock valued at $18,424,270. Insiders own 1.90% of the company’s stock.

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.