Emerald Investment Advisers LLC Buys Shares of 18,535 Iron Mountain Incorporated $IRM

Key Points

• Emerald Investment Advisers acquired 18,535 Iron Mountain shares worth approximately $2.34 million, while institutional investors collectively own 80.13% of the company.
• Iron Mountain’s CEO and an executive vice president sold shares worth a combined $5.42 million under pre-arranged Rule 10b5-1 trading plans; insiders sold 127,422 shares over the past quarter.
• The company reported quarterly EPS of $0.60 and revenue of $2.03 billion, exceeding estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $135.17. Iron Mountain also declared a $0.864 quarterly dividend, implying a 2.8% yield.

Emerald Investment Advisers LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,535 shares of the financial services provider's stock, valued at approximately $2,341,000.

A number of other institutional investors also recently modified their holdings of IRM. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $27,000. Beaird Harris Wealth Management LLC boosted its position in shares of Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC acquired a new stake in Iron Mountain during the first quarter worth approximately $31,000. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 in the company, valued at $12,454,908.90. This represents a 5.58% 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 127,422 shares of company stock valued at $15,810,652 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. 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. raised their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Barclays increased their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Finally, Truist Financial set a $140.00 target price on Iron Mountain in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.17.

Iron Mountain Price Performance

IRM opened at $122.19 on Friday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm has a market capitalization of $36.38 billion, a PE ratio of 87.28 and a beta of 1.20. The company's 50-day moving average is $124.52 and its 200 day moving average is $117.08.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The business 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%.The company's quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. As a group, analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Dividend Announcement

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

About Iron Mountain

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.

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source