26,600 Iron Mountain Incorporated $IRM Shares Bought by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund increased its Iron Mountain stake by 25.9% in the third quarter, purchasing 26,600 shares to bring its holdings to 129,500 shares valued at approximately $14.4 million. Institutional investors collectively own 80.13% of the company.
• Iron Mountain reported quarterly EPS of $0.60, beating estimates by $0.06, while revenue rose 18.5% year over year to $2.03 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $139.83.
• Company insiders sold 137,422 shares worth about $15.9 million over the past 90 days, while Iron Mountain paid a quarterly dividend of $0.864 per share, representing an annualized yield of approximately 3.1%.

Adams Diversified Equity Fund Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,500 shares of the financial services provider's stock after acquiring an additional 26,600 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Iron Mountain were worth $14,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc bought a new position in Iron Mountain during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $27,000. Wellington Altus USA Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $27,000. Sawyer & Company Inc bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $27,000. Finally, Markowski Investments purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $34,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William Meaney sold 38,474 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $110.45, for a total transaction of $4,249,453.30. Following the completion of the transaction, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,249,453.30. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $693,600.00. Following the transaction, the executive vice president directly owned 95,507 shares of the company's stock, valued at $11,040,609.20. The trade was a 5.91% decrease in their position. 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 ninety days, insiders sold 137,422 shares of company stock worth $15,881,099. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IRM shares. Truist Financial increased their target price on shares of Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Wall Street Zen lowered shares of Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Rothschild & Co Redburn assumed coverage on Iron Mountain in a research note on Monday, September 21st. They set a "buy" rating and a $132.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Iron Mountain presently has a consensus rating of "Moderate Buy" and an average target price of $139.83.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $110.88 on Friday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The company's 50 day moving average price is $115.86 and its 200-day moving average price is $120.50. The stock has a market capitalization of $33.01 billion, a price-to-earnings ratio of 79.20 and a beta of 1.17.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. 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, equities research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.8640 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 15th. Iron Mountain's dividend payout ratio is currently 247.14%.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.

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