67,203 Shares in Iron Mountain Incorporated $IRM Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management acquired 67,203 Iron Mountain shares worth approximately $8.5 million, while institutional investors and hedge funds collectively own 80.13% of the company.
• Analysts remain broadly positive: five rate Iron Mountain a Buy and one a Hold, producing a “Moderate Buy” consensus rating and an average price target of $135.17.
• Iron Mountain exceeded quarterly expectations with $0.60 in EPS and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, yielding about 2.8% annually.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 67,203 shares of the financial services provider's stock, valued at approximately $8,488,000.

Several other large investors have also modified their holdings of IRM. BDFS Capital LLC acquired a new position in Iron Mountain in the fourth quarter valued at $340,000. Allstate Corp raised its holdings in shares of Iron Mountain by 105.1% in the fourth quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock valued at $1,860,000 after buying an additional 11,492 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of Iron Mountain by 103.4% during the fourth quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider's stock worth $5,939,000 after buying an additional 36,400 shares during the period. Stevens Capital Management LP purchased a new position in shares of Iron Mountain during the fourth quarter worth about $1,262,000. Finally, Deutsche Bank AG purchased a new position in shares of Iron Mountain during the second quarter worth about $385,129,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm'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 sale, the executive vice president directly owned 101,507 shares of the company's stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of Iron Mountain 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 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 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 ninety days, insiders sold 127,422 shares of company stock valued at $15,810,652. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on IRM shares. Truist Financial set a $140.00 target price on Iron Mountain in a report on Friday, May 1st. Barclays boosted their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a research 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of "Moderate Buy" and a consensus target price of $135.17.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $122.19 on Monday. The company has a 50-day simple moving average of $124.52 and a 200-day simple moving average of $117.27. The company has a market cap of $36.38 billion, a PE ratio of 87.28 and a beta of 1.20. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced 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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $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 anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. Iron Mountain's dividend payout ratio (DPR) is 247.14%.

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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