11,300 Shares in Iron Mountain Incorporated $IRM Acquired by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC acquired 11,300 Iron Mountain shares worth approximately $1.43 million in the second quarter. Institutional investors collectively own 80.13% of the company.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 in adjusted earnings per share versus the $0.54 consensus and $2.03 billion in revenue, up 18.5% year over year.
• The company declared a quarterly dividend of $0.864 per share, equivalent to an annualized $3.46 payout and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with a $135.17 average price target.

Global Retirement Partners LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,300 shares of the financial services provider's stock, valued at approximately $1,427,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Iron Mountain in the 4th quarter worth $368,890,000. Cohen & Steers Inc. raised its holdings in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Iron Mountain by 597.9% in the 3rd 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 worth $322,292,000 after buying an additional 2,708,560 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Iron Mountain by 66.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock worth $349,021,000 after acquiring an additional 1,680,438 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $202,106,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of IRM opened at $129.80 on Tuesday. The company's fifty day moving average price is $124.68 and its 200-day moving average price is $116.38. The firm has a market capitalization of $38.64 billion, a PE ratio of 92.71 and a beta of 1.20. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The company's revenue was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, research analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.864 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. Iron Mountain's payout ratio is currently 247.14%.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the transaction, the executive vice president owned 101,507 shares of the company's stock, valued at $12,454,908.90. The trade was a 5.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 135,368 shares of company stock worth $16,807,080. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Barclays increased their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.17.

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.

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