Iron Mountain Incorporated $IRM Shares Bought by Allstate Corp

Key Points

• Allstate Corp more than doubled its Iron Mountain stake in the fourth quarter, increasing its holdings by 105.1% to 22,427 shares valued at about $1.86 million.
• Iron Mountain reported better-than-expected quarterly results, with EPS of $0.60 versus $0.50 expected and revenue of $1.94 billion versus $1.86 billion expected, while revenue rose 21.5% year over year.
• The company declared a quarterly dividend of $0.864 per share, implying an annualized payout of $3.46 and a dividend yield of 2.7%.

Allstate Corp increased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 105.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,427 shares of the financial services provider's stock after acquiring an additional 11,492 shares during the period. Allstate Corp's holdings in Iron Mountain were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC raised its holdings in Iron Mountain by 4,867.6% during the third quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider's stock worth $1,205,000 after purchasing an additional 11,585 shares in the last quarter. Fieldview Capital Management LLC bought a new stake in Iron Mountain during the third quarter worth approximately $3,092,000. J.W. Cole Advisors Inc. raised its holdings in Iron Mountain by 54.8% during the third quarter. J.W. Cole Advisors Inc. now owns 33,596 shares of the financial services provider's stock worth $3,425,000 after purchasing an additional 11,893 shares in the last quarter. AGF Management Ltd. raised its holdings in Iron Mountain by 178.0% during the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider's stock worth $2,262,000 after purchasing an additional 14,205 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Iron Mountain by 23.8% during the third quarter. Centersquare Investment Management LLC now owns 2,514,464 shares of the financial services provider's stock worth $256,324,000 after purchasing an additional 483,548 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Down 0.1%

Iron Mountain stock opened at $126.87 on Friday. The company's fifty day simple moving average is $115.46 and its 200-day simple moving average is $101.16. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.09. The stock has a market cap of $37.75 billion, a P/E ratio of 139.42 and a beta of 1.20.

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

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be issued a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. Iron Mountain's dividend payout ratio is currently 380.22%.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 7,189 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. The sale was disclosed in a legal filing 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, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $127.91, for a total transaction of $767,460.00. Following the completion of the sale, the executive vice president owned 119,507 shares of the company's stock, valued at $15,286,140.37. This represents a 4.78% 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 sold a total of 505,960 shares of company stock valued at $55,265,802 in the last three months. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on IRM shares. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Wells Fargo & Company upped their price target on Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday, April 21st. Finally, Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $131.67.

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.

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