Iron Mountain Incorporated $IRM Stock Acquired by Courier Capital LLC

Key Points

• Courier Capital increased its Iron Mountain stake by 90.8% in the third quarter, acquiring 12,900 additional shares for a total holding of 27,104 shares valued at approximately $3.0 million. Institutional investors collectively own 80.13% of the company.
• Iron Mountain’s shares recently fell 0.4% to $114.64, while the company reported quarterly revenue of $2.03 billion and earnings of $0.60 per share, beating analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $139.83.
• The company paid a quarterly dividend of $0.864 per share, equivalent to an annualized dividend of $3.46 and a 3.0% yield. Meanwhile, company insiders sold 137,422 shares worth approximately $15.9 million over the past 90 days.

Courier Capital LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 90.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,104 shares of the financial services provider's stock after purchasing an additional 12,900 shares during the period. Courier Capital LLC's holdings in Iron Mountain were worth $3,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Brown Financial Advisors boosted its stake in Iron Mountain by 3.6% during the second quarter. Brown Financial Advisors now owns 2,580 shares of the financial services provider's stock worth $326,000 after buying an additional 90 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Iron Mountain by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider's stock worth $3,461,000 after acquiring an additional 100 shares during the period. Eastern Bank raised its holdings in shares of Iron Mountain by 14.4% during the 3rd quarter. Eastern Bank now owns 841 shares of the financial services provider's stock worth $93,000 after acquiring an additional 106 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Iron Mountain by 2.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider's stock worth $382,000 after acquiring an additional 107 shares during the period. Finally, Essential Partners LLC boosted its holdings in Iron Mountain by 24.4% in the 1st quarter. Essential Partners LLC now owns 561 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Down 0.4%

NYSE IRM traded down $0.46 on Tuesday, reaching $114.64. The stock had a trading volume of 1,143,750 shares, compared to its average volume of 1,731,592. The stock has a fifty day moving average price of $117.67 and a two-hundred day moving average price of $119.83. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 81.89 and a beta of 1.17.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%. The company's revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. 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. Sell-side analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a dividend of $0.8640 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.0%. Iron Mountain's payout ratio is currently 247.14%.

Analyst Ratings Changes

IRM has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings cut Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Truist Financial raised their price objective on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Barclays raised their price objective on Iron Mountain from $143.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. Finally, Rothschild & Co Redburn assumed coverage on shares of Iron Mountain in a report on Monday, September 21st. They issued a "buy" rating and a $132.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $139.83.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $110.45, for a total transaction of $4,249,453.30. Following the completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at $4,249,453.30. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total transaction of $693,600.00. Following the completion of the sale, the executive vice president directly owned 95,507 shares in the company, valued at approximately $11,040,609.20. This represents a 5.91% 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. Over the last ninety days, insiders have sold 137,422 shares of company stock worth $15,881,099. Company insiders own 1.70% of the company's stock.

Iron Mountain Company Profile

Iron Mountain Incorporated NYSE: IRM is a global information management and data center services company. It helps organizations protect, manage and access physical and digital information, including business records, documents, backup media and other critical assets.

The company provides records storage and retrieval, secure shredding and destruction, information governance, digitization, document management and data migration services. Iron Mountain also operates data centers and offers colocation, hybrid cloud and related infrastructure services.

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