48,661 Shares in Iron Mountain Incorporated $IRM Bought by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management bought 48,661 Iron Mountain shares worth approximately $6.3 million, while institutional investors and hedge funds collectively own 80.13% of the company.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 EPS versus the $0.54 consensus and $2.03 billion in revenue, up 18.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.67.
• The stock opened at $117.55 after declining 4.2%; Iron Mountain also declared a quarterly dividend of $0.864 per share, representing a 2.9% annualized yield, while company insiders sold $15.8 million worth of shares during the quarter.

Rakuten Investment Management Inc. purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,661 shares of the financial services provider's stock, valued at approximately $6,324,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Sanctuary Advisors LLC acquired a new position in Iron Mountain during the second quarter valued at approximately $17,300,000. BDFS Capital LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth $340,000. Allstate Corp raised its stake in shares of Iron Mountain by 105.1% in the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock valued at $1,860,000 after acquiring an additional 11,492 shares during the period. Intact Investment Management Inc. raised its stake in shares of Iron Mountain by 103.4% in the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider's stock valued at $5,939,000 after acquiring an additional 36,400 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Iron Mountain during the 4th quarter valued at $1,262,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Truist Financial boosted their price objective on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. Weiss Ratings downgraded Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. 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 research note on Thursday, August 6th. Finally, Barclays raised their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of "Moderate Buy" and a consensus target price of $137.67.

Iron Mountain Trading Down 4.2%

IRM opened at $117.55 on Friday. The company has a fifty day simple moving average of $123.89 and a 200 day simple moving average of $118.13. The firm has a market cap of $34.99 billion, a price-to-earnings ratio of 83.96 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 quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 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 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 quarter in the previous 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. On average, analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be paid a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. Iron Mountain's payout ratio is 247.14%.

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of the 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 approximately $12,454,908.90. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 127,422 shares of company stock worth $15,810,652. Insiders own 1.70% of the company's stock.

Iron Mountain Profile

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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