Allworth Financial LP Takes $9.42 Million Position in Iron Mountain Incorporated $IRM

Key Points

• Allworth Financial acquired 74,559 Iron Mountain shares worth approximately $9.42 million, while institutional investors collectively own 80.13% of the company.
• Analysts maintain a positive outlook, with five Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and a $135.17 price target.
• Iron Mountain exceeded quarterly earnings and revenue expectations, reporting $0.60 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, a 2.8% annualized yield.

Allworth Financial LP 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 filing with the SEC. The institutional investor purchased 74,559 shares of the financial services provider's stock, valued at approximately $9,418,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRM. BlackRock Inc. acquired a new stake in Iron Mountain in the second quarter worth about $4,240,342,000. Cohen & Steers Inc. lifted its holdings in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock valued at $1,568,110,000 after buying an additional 3,155,034 shares during the period. State Street Corp boosted its stake in Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after acquiring an additional 322,144 shares during the last quarter. Geode Capital Management LLC grew its holdings in Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock worth $685,374,000 after acquiring an additional 102,073 shares during the period. Finally, Invesco Ltd. raised its position in shares of Iron Mountain by 18.1% during the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after acquiring an additional 776,933 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays increased their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a report on Friday, May 1st. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.17.

Iron Mountain Stock Performance

NYSE IRM opened at $123.09 on Friday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock's 50 day moving average price is $124.62 and its two-hundred day moving average price is $117.04. The stock has a market capitalization of $36.64 billion, a price-to-earnings ratio of 87.92 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $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, equities research analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared 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 is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.8%. Iron Mountain's dividend payout ratio (DPR) is currently 247.14%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $12,454,908.90. The trade was a 5.58% 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. In the last three months, insiders sold 127,422 shares of company stock valued at $15,810,652. Insiders own 1.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source