Andra AP fonden Boosts Holdings in Iron Mountain Incorporated $IRM

Key Points

• Andra AP fonden increased its Iron Mountain stake by 159.7% in the second quarter, bringing its holdings to 81,952 shares valued at approximately $10.35 million. Institutional investors collectively own 80.13% of the company.
• Iron Mountain exceeded quarterly expectations with $0.60 in earnings per share versus the $0.54 consensus estimate and revenue of $2.03 billion, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, representing a 2.9% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $139.83 versus the stock’s reported price of $118.09. Meanwhile, insiders sold 132,422 shares worth $15.8 million over the past 90 days.

Andra AP fonden raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 159.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,952 shares of the financial services provider's stock after acquiring an additional 50,400 shares during the period. Andra AP fonden's holdings in Iron Mountain were worth $10,351,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IRM. Canada Pension Plan Investment Board purchased a new position in shares of Iron Mountain during the second quarter valued at approximately $3,709,000. RB Capital Management LLC purchased a new stake in shares of Iron Mountain during the second quarter valued at approximately $5,907,000. Sanctuary Advisors LLC acquired a new position in shares of Iron Mountain in the second quarter worth about $17,300,000. Glenview Trust Co bought a new position in Iron Mountain during the 2nd quarter valued at $1,391,000. Finally, Deutsche Bank AG acquired a new position in shares of Iron Mountain in the 2nd quarter worth approximately $385,129,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insiders Place Their Bets

In other news, EVP Greg W. Mcintosh sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $578,000.00. Following the completion of the sale, the executive vice president directly owned 75,634 shares of the company's stock, valued at $8,743,290.40. This represents a 6.20% 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 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 company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their ownership of the stock. 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 sold a total of 132,422 shares of company stock worth $15,803,807 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

NYSE IRM opened at $118.09 on Wednesday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company's 50 day simple moving average is $120.76 and its 200 day simple moving average is $119.07. The firm has a market capitalization of $35.16 billion, a PE ratio of 84.35 and a beta of 1.18.

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 for the quarter, beating 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 negative return on equity of 85.44% and a net margin of 5.54%.The company's quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business 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. Sell-side analysts anticipate that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on IRM shares. Wells Fargo & Company lifted 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. Truist Financial increased their price target on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Rothschild & Co Redburn started coverage on Iron Mountain in a research report on Monday. They set a "buy" rating and a $132.00 price objective for the company. Finally, Barclays upped their price objective on Iron Mountain from $143.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.83.

Iron Mountain Profile

Iron Mountain Incorporated NYSE: IRM is a global information management and data storage company. Founded in 1951, the company helps organizations protect, manage and preserve physical and digital information throughout its lifecycle.

Its services include records storage, document management, secure shredding and destruction, information governance, data backup and recovery, and digital transformation. Iron Mountain also operates data centers that support colocation, cloud connectivity and other infrastructure needs for businesses and public-sector organizations.

The company serves customers across a range of industries, including financial services, healthcare, government, legal services and entertainment.

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