Fox Run Management L.L.C. Purchases New Stake in Iron Mountain Incorporated $IRM

Fox Run Management L.L.C. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, HoldingsChannel reports. The fund acquired 25,922 shares of the financial services provider’s stock, valued at approximately $2,659,000. Iron Mountain makes up 0.4% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 8th largest position.

Several other large investors also recently made changes to their positions in IRM. Financial Network Wealth Advisors LLC acquired a new position in shares of Iron Mountain during the 1st quarter valued at $26,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the first quarter valued at about $34,000. Richards Merrill & Peterson Inc. purchased a new position in Iron Mountain in the first quarter valued at about $43,000. Zions Bancorporation National Association UT acquired a new position in shares of Iron Mountain during the first quarter worth about $46,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Iron Mountain in the second quarter worth about $51,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 3.3%

Shares of IRM opened at $104.18 on Friday. The business’s 50 day moving average is $101.18 and its two-hundred day moving average is $98.33. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $125.38. The firm has a market cap of $30.77 billion, a price-to-earnings ratio of 744.19 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. 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. Iron Mountain’s payout ratio is presently 592.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Finally, Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the completion of the sale, the executive vice president directly owned 67,081 shares of the company’s stock, valued at approximately $6,876,473.31. This represents a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 226,681 shares of company stock worth $22,265,632. Company insiders own 1.90% of the company’s stock.

Iron Mountain Profile

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.