Adelante Capital Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 325,641 shares of the financial services provider's stock, valued at approximately $41,131,000. Iron Mountain accounts for 2.7% of Adelante Capital Management LLC's portfolio, making the stock its 10th largest position. Adelante Capital Management LLC owned about 0.11% of Iron Mountain at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bell Investment Advisors Inc purchased a new stake in Iron Mountain during the second quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in Iron Mountain in the 2nd quarter valued at approximately $27,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the second quarter worth $34,000. Elevation Wealth Partners LLC boosted its holdings in Iron Mountain by 444.2% in the second quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 231 shares during the period. Finally, Dynamic Wealth Strategies LLC purchased a new position in Iron Mountain in the first quarter valued at $31,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the sale, the executive vice president directly owned 101,507 shares of the company's stock, valued at $12,454,908.90. This trade represents a 5.58% 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 three months, insiders have sold 127,422 shares of company stock valued at $15,810,652. Corporate insiders own 1.70% of the company's stock.
Iron Mountain Trading Up 0.4%
IRM opened at $121.39 on Thursday. The company has a fifty day simple moving average of $124.19 and a 200 day simple moving average of $117.95. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 86.71 and a beta of 1.20. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. Iron Mountain's revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. 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. On average, analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.
Iron Mountain Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's dividend payout ratio is 247.14%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Wells Fargo & Company lifted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings raised Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of "Moderate Buy" and an average price target of $135.17.
View Our Latest Analysis on Iron Mountain
About Iron Mountain
(
Free Report)
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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