Bamco Inc. NY Buys New Position in Iron Mountain Incorporated $IRM

Bamco Inc. NY acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 310,721 shares of the financial services provider's stock, valued at approximately $39,247,000. Bamco Inc. NY owned approximately 0.10% of Iron Mountain as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE bought a new stake in Iron Mountain during the second quarter worth about $141,319,000. Freestone Grove Partners LP bought a new position in shares of Iron Mountain during the 2nd quarter worth about $600,000. Jupiter Topco LLC bought a new stake in shares of Iron Mountain during the second quarter worth about $4,201,000. Hsbc Holdings PLC raised its holdings in shares of Iron Mountain by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,347,871 shares of the financial services provider's stock valued at $170,307,000 after purchasing an additional 75,016 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Iron Mountain during the second quarter worth $3,709,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Truist Financial set a $140.00 price target on Iron Mountain in a research report on Friday, May 1st. Finally, Barclays increased their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $135.17.

Iron Mountain Stock Up 0.4%

Shares of IRM opened at $121.39 on Thursday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock has a market cap of $36.14 billion, a P/E ratio of 86.71 and a beta of 1.20. The business's 50 day moving average price is $124.19 and its 200-day moving average price is $117.95.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly 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. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business posted $1.24 EPS. Iron Mountain's revenue was up 18.5% compared to the same quarter last year. 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 analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Dividend Announcement

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

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $122.70, for a total value of $736,200.00. Following the transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 business's stock in a transaction on 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 sale, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their position. 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 127,422 shares of company stock valued at $15,810,652 in the last ninety days. 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.

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