Bank of Nova Scotia acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 79,661 shares of the financial services provider's stock, valued at approximately $10,103,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc purchased a new position in Iron Mountain in the second quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth $27,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth $34,000. Elevation Wealth Partners LLC increased its holdings in shares of Iron Mountain by 444.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 231 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC purchased a new stake in Iron Mountain during the first quarter worth about $31,000. Institutional investors and hedge funds own 80.13% of the company's stock.
Iron Mountain Price Performance
Shares of Iron Mountain stock opened at $121.34 on Tuesday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The business has a 50 day moving average price of $124.42 and a 200 day moving average price of $117.50. The company has a market capitalization of $36.12 billion, a P/E ratio of 86.68 and a beta of 1.20.
Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.Iron Mountain's revenue was up 18.5% compared to the same quarter last year. 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. As a group, 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 declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a yield of 2.8%. Iron Mountain's payout ratio is 247.14%.
Insiders Place Their Bets
In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the transaction, the executive vice president directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. This 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the firm'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 sale, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 127,422 shares of company stock worth $15,810,652. Corporate insiders own 1.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on IRM shares. Barclays lifted their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings raised Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.17.
Get Our Latest Stock Report on IRM
About Iron Mountain
(
Free Report)
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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