Cibc World Market Inc. Acquires 35,586 Shares of Iron Mountain Incorporated $IRM

Key Points

• Cibc World Market Inc. increased its Iron Mountain stake by 20.6% in the fourth quarter, buying 35,586 additional shares and bringing its total holding to 208,036 shares worth about $17.3 million.
• Insider selling has been notable, with executives and directors selling 202,985 shares over the last 90 days, including recent sales by CAO Daniel Borges and Director Walter C. Rakowich.
• Iron Mountain reported strong quarterly results, beating earnings and revenue estimates, and it also announced a quarterly dividend of $0.864 per share, implying an annualized yield of 2.8%.

Cibc World Market Inc. grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 208,036 shares of the financial services provider's stock after buying an additional 35,586 shares during the quarter. Cibc World Market Inc. owned 0.07% of Iron Mountain worth $17,257,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Iron Mountain in the third quarter valued at approximately $32,000. Franchise GP Ltd purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $38,000. Wealth Watch Advisors INC purchased a new stake in shares of Iron Mountain in the third quarter valued at approximately $44,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $45,000. Finally, Global Wealth Strategies & Associates purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $50,000. Institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 7,189 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total value of $94,208.65. Following the sale, the director owned 1,135 shares of the company's stock, valued at approximately $141,250.75. This represents a 40.01% 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 202,985 shares of company stock valued at $23,452,265 over the last 90 days. Insiders own 1.70% of the company's stock.

Iron Mountain Stock Down 4.2%

Iron Mountain stock opened at $124.82 on Friday. The business has a fifty day moving average of $118.50 and a two-hundred day moving average of $102.42. The firm has a market cap of $37.14 billion, a P/E ratio of 137.16 and a beta of 1.19. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.09.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.Iron Mountain's revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. 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. Equities analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be issued 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 yield of 2.8%. Iron Mountain's dividend payout ratio is currently 380.22%.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday, April 21st. Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Iron Mountain from a "hold" rating to a "buy" rating in a report on Saturday. Barclays boosted their price target on Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $131.67.

Iron Mountain 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.