Empowered Funds LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 14,840 shares of the financial services provider's stock, valued at approximately $1,874,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Iron Mountain in the second quarter worth about $4,240,342,000. Cohen & Steers Inc. boosted its stake in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock valued at $1,568,110,000 after buying an additional 3,155,034 shares during the last quarter. State Street Corp grew its holdings in Iron Mountain by 1.9% during the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after buying an additional 322,144 shares in the last quarter. Geode Capital Management LLC grew its holdings in Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock valued at $685,374,000 after buying an additional 102,073 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock worth $516,481,000 after acquiring an additional 776,933 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.
Analysts Set New Price Targets
IRM has been the subject of a number of research reports. Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Truist Financial increased their price objective on shares of Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Weiss Ratings cut shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Wells Fargo & Company upped their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.67.
Read Our Latest Research Report on Iron Mountain
Insider Buying and Selling
In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $693,600.00. Following the sale, the executive vice president directly owned 95,507 shares in the company, valued at approximately $11,040,609.20. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg W. Mcintosh sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $578,000.00. Following the sale, the executive vice president directly owned 75,634 shares of the company's stock, valued at $8,743,290.40. This represents a 6.20% 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. Insiders have sold 132,422 shares of company stock valued at $15,803,807 in the last ninety days. 1.70% of the stock is owned by company insiders.
More Iron Mountain News
Here are the key news stories impacting Iron Mountain this week:
- Positive Sentiment: Iron Mountain announced a partnership with Saudi Arabia’s Social Development Bank to modernize document-intensive financing processes. The bank will use Iron Mountain InSight DXP’s AI-powered intelligent document processing, giving IRM a potential foothold for broader digital-services growth in the Middle East. Iron Mountain Middle East partnership
- Positive Sentiment: The Saudi agreement reinforces Iron Mountain’s transition beyond traditional records storage toward AI, digitization and information-management services. Investors may view the partnership as a catalyst for recurring technology revenue and expanded regional customer relationships. Iron Mountain AI digital partnership
- Positive Sentiment: Recent quarterly results showed revenue rising 18.5% year over year to $2.03 billion, while adjusted earnings per share of $0.60 exceeded the $0.54 consensus estimate. Management also raised full-year 2026 guidance, highlighting momentum in digital and data-center-related businesses. Iron Mountain earnings growth
- Neutral Sentiment: Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $137.67. However, most target changes followed the August earnings report and do not represent a new catalyst.
- Negative Sentiment: CEO William Meaney sold 38,474 shares, while EVPs Mark Kidd and Greg McIntosh sold 6,000 and 5,000 shares, respectively. The transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary bearish signals, but the concentration of insider selling could pressure investor confidence. Iron Mountain insider selling
- Negative Sentiment: Iron Mountain trades at a high earnings multiple, while its reported dividend payout ratio above 247% could raise questions about earnings-based coverage despite the approximately 3.1% yield.
Iron Mountain Stock Performance
NYSE:IRM opened at $115.32 on Friday. The stock's fifty day moving average is $122.49 and its 200 day moving average is $118.58. 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 $34.33 billion, a PE ratio of 82.37 and a beta of 1.18.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. Iron Mountain's quarterly revenue 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. Equities analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.
Iron Mountain Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio is 247.14%.
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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