Advisors Capital Management LLC Takes Position in Iron Mountain Incorporated $IRM

Advisors 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 Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,925 shares of the financial services provider's stock, valued at approximately $1,254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Oregon Public Employees Retirement Fund lifted its holdings in Iron Mountain by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider's stock valued at $3,461,000 after purchasing an additional 100 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Iron Mountain by 15.4% in the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider's stock valued at $65,000 after buying an additional 104 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Iron Mountain by 2.9% in the first quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider's stock valued at $382,000 after buying an additional 107 shares during the last quarter. Corrado Advisors LLC lifted its stake in shares of Iron Mountain by 0.6% during the fourth quarter. Corrado Advisors LLC now owns 19,856 shares of the financial services provider's stock valued at $1,647,000 after buying an additional 110 shares during the period. Finally, Essential Partners LLC boosted its position in Iron Mountain by 24.4% during the first quarter. Essential Partners LLC now owns 561 shares of the financial services provider's stock worth $57,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were 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 approximately $12,454,908.90. This represents a 5.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 completion of the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. This represents a 50.00% 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. Insiders have sold a total of 127,422 shares of company stock worth $15,810,652 in the last 90 days. Company insiders own 1.70% of the company's stock.

Iron Mountain Price Performance

NYSE IRM opened at $122.19 on Friday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The firm has a market capitalization of $36.38 billion, a P/E ratio of 87.28 and a beta of 1.20. The business's 50-day simple moving average is $124.52 and its 200-day simple moving average is $117.08.

Iron Mountain (NYSE:IRM - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company's revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $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, equities research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 payout ratio is presently 247.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IRM shares. Weiss Ratings upgraded Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Barclays upped their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Finally, Truist Financial set a $140.00 price objective on shares of Iron Mountain in a report on Friday, May 1st. Five equities research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.17.

Iron Mountain Company 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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