Bank of America Corp DE purchased a new stake 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 (SEC). The fund purchased 1,118,827 shares of the financial services provider's stock, valued at approximately $141,319,000. Bank of America Corp DE owned approximately 0.38% of Iron Mountain at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in shares of Iron Mountain in the second quarter worth $3,709,000. Sanctuary Advisors LLC acquired a new stake in Iron Mountain during the second quarter worth about $17,300,000. BDFS Capital LLC bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $340,000. Deutsche Bank AG bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $385,129,000. Finally, Allstate Corp raised its stake in shares of Iron Mountain by 105.1% in the fourth quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock valued at $1,860,000 after purchasing an additional 11,492 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total value of $4,389,113.92. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,389,113.92. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $693,600.00. Following the completion of the transaction, the executive vice president directly owned 95,507 shares of the company's stock, valued at $11,040,609.20. This represents a 5.91% 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. Insiders have sold a total of 132,422 shares of company stock worth $15,803,807 in the last three months. Insiders own 1.70% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on IRM. Truist Financial lifted their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Wall Street Zen cut shares of Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Barclays upped their target price on shares of Iron Mountain from $143.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company raised their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.83.
View Our Latest Report on IRM
Iron Mountain Stock Performance
Shares of NYSE:IRM opened at $114.00 on Friday. The company's fifty day moving average is $121.11 and its 200-day moving average is $118.90. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The company has a market capitalization of $33.94 billion, a PE ratio of 81.43 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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $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, analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.
Iron Mountain Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's payout ratio is presently 246.43%.
About Iron Mountain
(
Free Report)
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.
Further Reading
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