Iron Mountain Incorporated $IRM Stock: Hourglass Capital LLC Trims Position

Key Points

• Hourglass Capital cut its Iron Mountain position by 78.1% in the third quarter, selling 51,600 shares and retaining 14,450 shares valued at approximately $1.6 million. Institutional investors collectively own 80.13% of the company.
• Iron Mountain reported quarterly EPS of $0.60, beating estimates of $0.54, while revenue rose 18.5% year over year to $2.03 billion. The company pays an annualized dividend of $3.46 per share, yielding about 3.1%.
• Analysts maintain a generally positive view, with five Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $139.83 versus the stock’s reported $113.02 price.

Hourglass Capital LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 78.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,450 shares of the financial services provider's stock after selling 51,600 shares during the quarter. Hourglass Capital LLC's holdings in Iron Mountain were worth $1,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brown Financial Advisors boosted its stake in shares of Iron Mountain by 3.6% during the second quarter. Brown Financial Advisors now owns 2,580 shares of the financial services provider's stock valued at $326,000 after purchasing an additional 90 shares during the period. Crown Wealth Group LLC increased its stake in Iron Mountain by 3.0% in the 3rd quarter. Crown Wealth Group LLC now owns 3,086 shares of the financial services provider's stock worth $342,000 after buying an additional 91 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Iron Mountain by 0.3% in 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 buying an additional 100 shares during the period. Yousif Capital Management LLC lifted its holdings in Iron Mountain by 0.3% during the 3rd quarter. Yousif Capital Management LLC now owns 38,379 shares of the financial services provider's stock valued at $4,258,000 after buying an additional 102 shares in the last quarter. Finally, Eastern Bank lifted its holdings in Iron Mountain by 14.4% during the 3rd quarter. Eastern Bank now owns 841 shares of the financial services provider's stock valued at $93,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

IRM stock opened at $113.02 on Tuesday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The business has a 50-day moving average price of $115.39 and a 200 day moving average price of $114.33. The company has a market capitalization of $33.65 billion, a P/E ratio of 80.73 and a beta of 1.17.

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

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.8640 per share. The ex-dividend date was Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.1%. Iron Mountain's dividend payout ratio (DPR) is currently 247.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IRM shares. Wells Fargo & Company upped their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Rothschild & Co Redburn began coverage on shares of Iron Mountain in a research note on Monday, September 21st. They set a "buy" rating and a $132.00 price target for the company. Truist Financial boosted their price target on Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Barclays raised their price objective on Iron Mountain from $143.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Iron Mountain presently has a consensus rating of "Moderate Buy" and an average price target of $139.83.

Insider Activity at Iron Mountain

In related news, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $110.72, for a total transaction of $553,600.00. Following the transaction, the executive vice president directly owned 70,634 shares of the company's stock, valued at $7,820,596.48. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the transaction, the executive vice president directly owned 101,507 shares of the company's stock, valued at $12,454,908.90. This trade represents a 5.58% decrease in their position. 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 a total of 137,422 shares of company stock valued at $15,881,099 over the last ninety days. 1.70% of the stock is owned by company insiders.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.

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