Key Points
- CEO William Meaney sold 69,125 shares on Dec. 1 at an average price of $83.34 for a total of $5,760,877.50, according to an SEC filing.
- Iron Mountain raised its quarterly dividend to $0.864 (annualized $3.46) for a yield of ~4.1%, but the dividend payout ratio is extremely high at 650.94%, raising sustainability concerns.
- The company beat Q3 EPS estimates ($1.32 vs. $1.29) with revenue up 12.7% YoY and set FY2025 EPS guidance of $5.04–$5.13; analysts hold a consensus "Moderate Buy" rating with a $114.80 target.
Iron Mountain Incorporated (NYSE:IRM - Get Free Report) EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $85.00, for a total value of $510,000.00. Following the completion of the transaction, the executive vice president directly owned 61,081 shares in the company, valued at $5,191,885. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Mark Kidd also recently made the following trade(s):
- On Monday, November 3rd, Mark Kidd sold 6,000 shares of Iron Mountain stock. The shares were sold at an average price of $102.51, for a total value of $615,060.00.
- On Friday, October 31st, Mark Kidd sold 7,306 shares of Iron Mountain stock. The stock was sold at an average price of $100.82, for a total transaction of $736,590.92.
Iron Mountain Stock Performance
IRM opened at $84.27 on Thursday. The company has a 50-day moving average of $98.21 and a 200-day moving average of $97.79. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $121.23. The company has a market capitalization of $24.91 billion, a P/E ratio of 159.00 and a beta of 1.14.
Iron Mountain (NYSE:IRM - Get Free Report) last released 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. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. Iron Mountain's quarterly revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be issued a dividend of $0.864 per share. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Iron Mountain's previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 4.1%. Iron Mountain's dividend payout ratio is presently 650.94%.
Institutional Trading of Iron Mountain
Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Iron Mountain during the 2nd quarter valued at about $419,457,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider's stock valued at $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Nuveen LLC acquired a new stake in Iron Mountain in the 1st quarter valued at about $192,231,000. Invesco Ltd. boosted its stake in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider's stock worth $439,983,000 after acquiring an additional 1,440,629 shares during the period. Finally, Contour Asset Management LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $122,801,000. Institutional investors own 80.13% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a "buy" rating and a $120.00 price target on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a report on Wednesday, October 8th. Barclays raised their target price on Iron Mountain from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, November 12th. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.80.
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About Iron Mountain
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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.
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