Iron Mountain Incorporated $IRM Shares Sold by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management cut its Iron Mountain stake by 4.6% in the fourth quarter, selling 8,170 shares and ending with 171,182 shares worth about $14.2 million.
• Iron Mountain beat earnings and revenue expectations in its latest quarter, reporting EPS of $0.60 on revenue of $1.94 billion, while revenue jumped 21.5% year over year.
• The company declared a quarterly dividend of $0.864 per share, and Wall Street currently rates the stock a “Moderate Buy” with an average price target of $131.67.

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,182 shares of the financial services provider's stock after selling 8,170 shares during the period. Resona Asset Management Co. Ltd. owned about 0.06% of Iron Mountain worth $14,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after purchasing an additional 1,286 shares during the period. Empowered Funds LLC raised its stake in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 537 shares during the period. Woodline Partners LP raised its stake in shares of Iron Mountain by 41.0% during the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock valued at $2,129,000 after purchasing an additional 7,193 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Iron Mountain by 29.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock valued at $136,000 after purchasing an additional 300 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Iron Mountain by 3.6% during the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock valued at $3,620,000 after purchasing an additional 1,222 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 1.7%

Shares of NYSE:IRM opened at $125.61 on Thursday. The company has a fifty day simple moving average of $113.09 and a 200 day simple moving average of $100.12. The firm has a market cap of $37.37 billion, a PE ratio of 138.04 and a beta of 1.20. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.09.

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

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, June 15th. Iron Mountain's payout ratio is 380.22%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $128.93, for a total transaction of $4,960,452.82. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at $4,960,452.82. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the firm's 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 transaction, the director owned 40,196 shares in the company, valued at approximately $5,184,078.12. The trade was a 4.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 498,014 shares of company stock valued at $54,269,373 over the last quarter. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IRM. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Barclays lifted their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Loop Capital set a $130.00 price objective on shares of 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 company's stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of "Moderate Buy" and an average price target of $131.67.

About Iron Mountain

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.