Iron Mountain Incorporated $IRM Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its Iron Mountain stake by 17.8% in the fourth quarter, selling 7,974 shares and leaving it with 36,944 shares valued at about $3.06 million.
• Iron Mountain reported strong quarterly results, with EPS of $0.60 topping estimates of $0.50 and revenue of $1.94 billion beating expectations; revenue also rose 21.5% from a year earlier.
• The company announced a quarterly dividend of $0.864 per share, payable July 3, which annualizes to $3.46 per share and a yield of 2.7%.

Truist Financial Corp trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,944 shares of the financial services provider's stock after selling 7,974 shares during the period. Truist Financial Corp's holdings in Iron Mountain were worth $3,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. acquired a new stake in shares of Iron Mountain during the 3rd quarter worth $3,588,000. NewSquare Capital LLC increased its holdings in shares of Iron Mountain by 4,867.6% during the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider's stock worth $1,205,000 after buying an additional 11,585 shares during the last quarter. Fieldview Capital Management LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth $3,092,000. J.W. Cole Advisors Inc. increased its holdings in shares of Iron Mountain by 54.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 33,596 shares of the financial services provider's stock worth $3,425,000 after buying an additional 11,893 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Iron Mountain by 17.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider's stock worth $10,598,000 after buying an additional 15,225 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 2.8%

Shares of NYSE IRM opened at $126.28 on Wednesday. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.09. The company has a market cap of $37.57 billion, a P/E ratio of 138.77 and a beta of 1.20. The stock has a fifty day moving average price of $110.95 and a 200 day moving average price of $99.21.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.86 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm'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, sell-side analysts forecast that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company 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 $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Iron Mountain's dividend payout ratio is presently 380.22%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Truist Financial set a $140.00 price target on Iron Mountain in a report on Friday, May 1st. Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $131.67.

Insider Activity

In other Iron Mountain news, Director Jennifer Allerton sold 7,000 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the transaction, the director directly owned 11,541 shares of the company's stock, valued at $1,256,584.08. This represents a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mithu Bhargava sold 59,725 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the transaction, the executive vice president directly owned 16,054 shares of the company's stock, valued at approximately $1,679,569.48. The trade was a 78.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 496,122 shares of company stock valued at $54,025,362. Corporate insiders own 1.70% of the company's stock.

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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