Rakuten Investment Management Inc. Makes New $3.12 Million Investment in Iron Mountain Incorporated $IRM

Rakuten Investment Management Inc. acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,578 shares of the financial services provider’s stock, valued at approximately $3,117,000.

Several other institutional investors have also made changes to their positions in IRM. Quent Capital LLC acquired a new position in Iron Mountain in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 purchasing an additional 343 shares in the last quarter. City Holding Co. purchased a new stake in shares of Iron Mountain in the third quarter valued at $68,000. First Horizon Corp acquired a new stake in shares of Iron Mountain in the third quarter worth $68,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Iron Mountain during the second quarter valued at $79,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $93.59 on Friday. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of 176.59 and a beta of 1.13. The stock has a 50-day simple moving average of $85.85 and a 200-day simple moving average of $94.07. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $112.18.

Iron Mountain (NYSE:IRM) last issued 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. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, equities research analysts predict 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 was paid on Tuesday, January 6th. Investors of record on Monday, December 15th were issued a $0.864 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, December 15th. Iron Mountain’s dividend payout ratio is currently 652.83%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 7,306 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $100.82, for a total transaction of $736,590.92. Following the transaction, the executive vice president directly owned 73,081 shares in the company, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total value of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,038 shares of company stock worth $18,424,270 over the last three months. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday. Barclays restated an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a report on Tuesday, January 13th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $115.40.

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.