Iron Mountain Incorporated $IRM Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Iron Mountain stake by 5.9% in the second quarter, bringing its holdings to 1.35 million shares valued at approximately $170.3 million. Institutional investors collectively own 80.13% of the company.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating; the consensus price target is $135.17. JPMorgan, Wells Fargo, and other firms recently raised or set targets between $138 and $140.
• Iron Mountain exceeded quarterly earnings and revenue expectations, reporting $0.60 in EPS and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, representing a 2.9% annualized yield.

Hsbc Holdings PLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,347,871 shares of the financial services provider's stock after purchasing an additional 75,016 shares during the quarter. Hsbc Holdings PLC owned 0.45% of Iron Mountain worth $170,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Iron Mountain during the second quarter worth approximately $4,240,342,000. Cohen & Steers Inc. lifted its stake in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after acquiring an additional 3,155,034 shares during the last quarter. State Street Corp lifted its stake in Iron Mountain by 1.9% in 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 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 worth $685,374,000 after acquiring an additional 102,073 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after purchasing an additional 776,933 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. Wells Fargo & Company lifted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.17.

Iron Mountain Stock Down 0.3%

NYSE:IRM opened at $120.83 on Wednesday. The company has a market capitalization of $35.97 billion, a PE ratio of 86.31 and a beta of 1.20. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The stock's 50 day moving average price is $124.28 and its 200 day moving average price is $117.72.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $1.24 earnings per share. The company'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. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS 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. Investors of record on Tuesday, September 15th will be given a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.9%. Iron Mountain's dividend payout ratio (DPR) is presently 247.14%.

Insider Buying and Selling

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 value of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the company's 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 approximately $12,454,908.90. This trade 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 sold a total of 127,422 shares of company stock worth $15,810,652 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Iron Mountain Company 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.

Continue following MarketBeat

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

Add As Preferred Source