Iron Mountain Incorporated $IRM Shares Purchased by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Iron Mountain stake by 210.3% in the first quarter, buying 10,000 additional shares and bringing its total holdings to 14,755 shares worth about $1.5 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 estimated, while also raising its guidance for FY 2026.
• Analysts remain broadly positive on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with an average target price of $134.33.

Carnegie Investment Counsel grew its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 210.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 14,755 shares of the financial services provider's stock after purchasing an additional 10,000 shares during the quarter. Carnegie Investment Counsel's holdings in Iron Mountain were worth $1,507,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at about $25,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Iron Mountain by 17,500.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock worth $29,000 after purchasing an additional 350 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $32,000. Bayban acquired a new stake in Iron Mountain during the fourth quarter valued at approximately $33,000. Finally, DV Equities LLC bought a new stake in Iron Mountain during the fourth quarter worth approximately $34,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $122.35 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm's 50 day simple moving average is $126.01 and its 200-day simple moving average is $110.00. The company has a market cap of $36.40 billion, a P/E ratio of 134.45 and a beta of 1.19.

Iron Mountain (NYSE:IRM - Get Free Report) last issued 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. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm's quarterly revenue was up 21.5% on a year-over-year basis. 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, analysts expect that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 15th. Iron Mountain's dividend payout ratio (DPR) is 380.22%.

Analysts Set New Price Targets

Several research analysts have issued reports on IRM shares. Barclays lifted their price target 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. Wells Fargo & Company raised their price objective on Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted 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. Wall Street Zen raised Iron Mountain from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Weiss Ratings downgraded Iron Mountain from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $134.33.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total transaction of $94,208.65. Following the transaction, the director owned 1,135 shares in the company, valued at approximately $141,250.75. The trade was a 40.01% 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, 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 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 a total of 137,260 shares of company stock valued at $17,361,672 over the last quarter. 1.70% of the stock is owned by insiders.

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.

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.