Adams Diversified Equity Fund Inc. Purchases Shares of 80,800 Iron Mountain Incorporated $IRM

Key Points

• Adams Diversified Equity Fund opened a new position in Iron Mountain, buying 80,800 shares worth about $8.25 million in the first quarter.
• Iron Mountain reported stronger-than-expected quarterly results, with EPS of $0.60 versus $0.50 expected and revenue of $1.94 billion, up 21.5% year over year.
• The company remains active on capital returns and market sentiment is mixed: it declared a $0.864 quarterly dividend and analysts currently rate the stock Moderate Buy with a consensus target price of $131.67.

Adams Diversified Equity Fund Inc. acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 80,800 shares of the financial services provider's stock, valued at approximately $8,253,000.

Several other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock worth $2,573,000 after acquiring an additional 1,286 shares during the last quarter. Empowered Funds LLC grew its position in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 537 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Iron Mountain by 41.0% in the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock worth $2,129,000 after purchasing an additional 7,193 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Iron Mountain by 29.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock worth $136,000 after purchasing an additional 300 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Iron Mountain by 3.6% in the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock worth $3,620,000 after buying an additional 1,222 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity

In other Iron Mountain news, Director Pamela M. Arway sold 1,892 shares of Iron Mountain stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total value of $244,011.24. Following the transaction, the director directly owned 40,196 shares of the company's stock, valued at approximately $5,184,078.12. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total value of $902,219.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 143,260 shares of company stock worth $17,203,835 over the last 90 days. 1.70% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

NYSE IRM opened at $132.42 on Friday. The company has a market cap of $39.40 billion, a P/E ratio of 145.51 and a beta of 1.19. The business's 50 day moving average price is $125.32 and its 200-day moving average price is $106.89. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $1.17 earnings per share. Iron Mountain's revenue was up 21.5% on a year-over-year basis. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, equities analysts predict that Iron Mountain Incorporated will post 5.4 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be paid a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, June 15th. Iron Mountain's payout ratio is 380.22%.

Analysts Set New Price Targets

IRM has been the subject of several research analyst reports. Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. JPMorgan Chase & Co. increased their target price on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of Iron Mountain from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Iron Mountain presently has an average rating of "Moderate Buy" and a consensus target price of $131.67.

About Iron Mountain

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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