Iron Mountain Incorporated $IRM Position Raised by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Iron Mountain stake by 1.2% in the fourth quarter, bringing holdings to 1,685,978 shares worth about $139.9 million.
• Iron Mountain reported better-than-expected quarterly results, with EPS of $0.60 versus $0.50 expected and revenue of $1.94 billion, up 21.5% from a year earlier.
• The company also announced a quarterly dividend of $0.864 per share and said several analysts remain constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $131.67.

Bank of New York Mellon Corp raised its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,685,978 shares of the financial services provider's stock after buying an additional 19,418 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of Iron Mountain worth $139,852,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IRM. Vanguard Group Inc. lifted its stake in shares of Iron Mountain by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider's stock worth $4,816,981,000 after acquiring an additional 188,213 shares during the period. State Street Corp grew its holdings in Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock worth $1,759,494,000 after acquiring an additional 322,144 shares during the period. Geode Capital Management LLC grew its holdings in Iron Mountain by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock worth $685,374,000 after acquiring an additional 102,073 shares during the period. Invesco Ltd. grew its holdings in Iron Mountain by 18.1% during the third 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 period. Finally, Norges Bank acquired a new position in Iron Mountain during the fourth quarter worth about $368,890,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Truist Financial set a $140.00 target price on Iron Mountain in a report on Friday, May 1st. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Wall Street Zen raised Iron Mountain from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Moderate Buy" and an average price target of $131.67.

Iron Mountain Trading Down 4.2%

Shares of IRM opened at $124.82 on Friday. The business's 50-day moving average price is $118.50 and its 200 day moving average price is $102.42. The stock has a market capitalization of $37.14 billion, a P/E ratio of 137.16 and a beta of 1.19. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.09.

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

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders 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 yield of 2.8%. Iron Mountain's dividend payout ratio (DPR) is presently 380.22%.

Insider Activity

In other news, Director Pamela M. Arway sold 1,892 shares of Iron Mountain stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $128.97, for a total transaction of $244,011.24. Following the completion of the sale, the director directly owned 40,196 shares in the company, valued at $5,184,078.12. The trade was a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 dated Monday, June 1st. The shares were sold at an average price of $126.70, for a total value of $760,200.00. Following the sale, the executive vice president owned 113,507 shares of the company's stock, valued at approximately $14,381,336.90. This represents a 5.02% 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 three months, insiders sold 202,985 shares of company stock worth $23,452,265. Corporate insiders own 1.70% of the company's stock.

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.

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.