BlackRock Inc. bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,570,910 shares of the financial services provider's stock, valued at approximately $4,240,342,000. BlackRock Inc. owned 11.28% of Iron Mountain at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter valued at $368,890,000. Cohen & Steers Inc. grew its holdings in Iron Mountain by 20.0% during 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 acquiring an additional 3,155,034 shares during the period. Deutsche Bank AG bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $385,129,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Iron Mountain by 597.9% in the third 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 valued at $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Iron Mountain by 66.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock worth $349,021,000 after purchasing an additional 1,680,438 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.
Iron Mountain Price Performance
Shares of IRM opened at $126.94 on Wednesday. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $134.68. The company has a market capitalization of $37.79 billion, a P/E ratio of 90.68 and a beta of 1.20. The business's 50 day simple moving average is $124.70 and its 200-day simple moving average is $116.62.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results 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 net margin of 5.54% and a negative return on equity of 85.44%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business posted $1.24 earnings per share. Iron Mountain's revenue for the quarter was up 18.5% compared to the same quarter last year. 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, sell-side analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.
Iron Mountain Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. Iron Mountain's dividend payout ratio (DPR) is presently 247.14%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on IRM shares. Wells Fargo & Company increased their target price on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Barclays upped their target price on Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Truist Financial set a $140.00 price objective on Iron Mountain in a research note on Friday, May 1st. Finally, Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $135.17.
Get Our Latest Report on IRM
Insider Transactions at Iron Mountain
In other Iron Mountain news, CAO Daniel Borges sold 7,189 shares of Iron Mountain stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the 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 completion of the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 134,611 shares of company stock worth $16,712,871 in the last three months. Insiders own 1.70% of the company's stock.
Iron Mountain Profile
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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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