Sen. Markwayne Mullin Buys Iron Mountain Incorporated (NYSE:IRM) Shares

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Iron Mountain Incorporated (NYSE:IRM). In a filing disclosed on February 27th, the Senator disclosed that they had bought between $1,001 and $15,000 in Iron Mountain stock on February 3rd.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Honeywell International (NASDAQ:HON) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Brick (TSE:BRK) on 2/13/2025.
• Sold $100,001 – $250,000 in shares of Vanguard Materials ETF (NYSEARCA:VAW) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of Microsoft (NASDAQ:MSFT) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Constellation Brands (NYSE:STZ) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of LPL Financial (NASDAQ:LPLA) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of TJX Companies (NYSE:TJX) on 2/13/2025.
• Sold $50,001 – $100,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 2/13/2025.

Iron Mountain Price Performance

Shares of IRM stock opened at $91.64 on Friday. The business has a 50-day moving average of $102.35 and a 200 day moving average of $111.89. Iron Mountain Incorporated has a 1-year low of $73.45 and a 1-year high of $130.24. The stock has a market capitalization of $26.92 billion, a PE ratio of 150.23, a P/E/G ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $0.52 EPS. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.43%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IRM shares. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.67.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Merit Financial Group LLC grew its stake in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the period. Tidal Investments LLC raised its holdings in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Iron Mountain during the third quarter valued at $24,122,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. Corporate insiders own 2.10% of the company’s stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Iron Mountain Company 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.