CIBC Asset Management Inc Has $5.96 Million Holdings in Iron Mountain Incorporated $IRM

Key Points

• CIBC Asset Management boosted its Iron Mountain stake by 68% in the fourth quarter, ending with 71,901 shares worth about $5.96 million.
• Iron Mountain reported better-than-expected quarterly results, posting EPS of $0.60 versus $0.50 expected and revenue of $1.94 billion versus $1.86 billion expected, with revenue up 21.5% year over year.
• The company announced a quarterly dividend of $0.864 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with an average price target of $131.67.

CIBC Asset Management Inc boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 68.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,901 shares of the financial services provider's stock after purchasing an additional 29,110 shares during the quarter. CIBC Asset Management Inc's holdings in Iron Mountain were worth $5,964,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Iron Mountain by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after purchasing an additional 1,286 shares during the last quarter. Empowered Funds LLC raised its stake in Iron Mountain by 10.3% during the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 537 shares during the last quarter. Woodline Partners LP raised its stake in shares of Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock valued at $2,129,000 after buying an additional 7,193 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Iron Mountain by 29.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock valued at $136,000 after buying an additional 300 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Iron Mountain by 3.6% in the 2nd quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock valued at $3,620,000 after buying an additional 1,222 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 757 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the sale, the director owned 1,135 shares of the company's stock, valued at $141,250.75. This represents a 40.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $127.55, for a total transaction of $4,907,358.70. Following the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,907,358.70. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 202,985 shares of company stock worth $23,452,265 over the last ninety days. Company insiders own 1.70% of the company's stock.

Iron Mountain Stock Down 4.2%

Shares of Iron Mountain stock opened at $124.82 on Friday. The stock has a market capitalization of $37.14 billion, a P/E ratio of 137.16 and a beta of 1.19. The company has a 50-day simple moving average of $118.50 and a 200 day simple moving average of $102.42. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.09.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be given a dividend of $0.864 per share. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. Iron Mountain's dividend payout ratio (DPR) is 380.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRM. Loop Capital set a $130.00 price objective on shares of Iron Mountain in a research note on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Iron Mountain from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.67.

Iron Mountain Company Profile

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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