Corient Private Wealth LP Buys New Position in Iron Mountain Incorporated $IRM

Key Points

• Corient Private Wealth acquired 224,512 Iron Mountain shares worth approximately $28.4 million in the second quarter, while institutional investors collectively own 80.13% of the company.
• Iron Mountain reported quarterly EPS of $0.60, beating estimates of $0.54, and revenue of $2.03 billion, up 18.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.67.
• The company declared a quarterly dividend of $0.864 per share, equivalent to a 2.8% annualized yield. Meanwhile, insiders sold 127,422 shares worth roughly $15.8 million over the past 90 days.

Corient Private Wealth LP bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 224,512 shares of the financial services provider's stock, valued at approximately $28,360,000. Corient Private Wealth LP owned 0.08% of Iron Mountain as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Iron Mountain by 4.5% in the first 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 buying an additional 1,286 shares during the period. Empowered Funds LLC grew its holdings 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 worth $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP grew its holdings in Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock worth $2,129,000 after acquiring an additional 7,193 shares during the period. EverSource Wealth Advisors LLC raised its position 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 worth $136,000 after acquiring an additional 300 shares in the last quarter. Finally, Cerity Partners LLC raised its position 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 worth $3,620,000 after acquiring an additional 1,222 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $12,454,908.90. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction on 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 transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents 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 90 days, insiders have sold 127,422 shares of company stock valued at $15,810,652. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Wells Fargo & Company boosted their price target on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target 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 downgraded shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, Truist Financial lifted their price objective on shares of Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.67.

Iron Mountain Price Performance

IRM stock opened at $122.72 on Friday. The stock has a market capitalization of $36.53 billion, a PE ratio of 87.66 and a beta of 1.20. The company's 50-day moving average is $124.09 and its 200-day moving average is $118.14. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $1.24 EPS. The firm's revenue for the quarter 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, analysts anticipate that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

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

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.

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