Iron Mountain Incorporated $IRM Stock Position Raised by Saudi Central Bank

Key Points

• Saudi Central Bank increased its Iron Mountain stake by 90.8% in the second quarter, bringing its holdings to 20,823 shares valued at approximately $2.63 million. Institutional investors and hedge funds collectively own 80.13% of the company.
• Analyst sentiment remains positive overall, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $137.67. Wells Fargo, Truist Financial, and Barclays recently raised their targets.
• Iron Mountain exceeded quarterly earnings and revenue expectations, reporting $0.60 in EPS and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, though insiders have sold more than $15.8 million of stock over the past three months.

Saudi Central Bank boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 90.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,823 shares of the financial services provider's stock after acquiring an additional 9,912 shares during the period. Saudi Central Bank's holdings in Iron Mountain were worth $2,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Garton & Associates Financial Advisors LLC acquired a new position in Iron Mountain during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new position in Iron Mountain during the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in Iron Mountain during the 2nd quarter worth $27,000. Beaird Harris Wealth Management LLC grew its stake in shares of Iron Mountain by 17,500.0% in the fourth 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. Finally, Dynamic Wealth Strategies LLC acquired a new position in shares of Iron Mountain during the first quarter valued at $31,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Truist Financial boosted their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Barclays increased their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings cut Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $137.67.

Iron Mountain Price Performance

NYSE IRM opened at $116.81 on Tuesday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company has a market capitalization of $34.77 billion, a P/E ratio of 83.44 and a beta of 1.18. The company's 50 day simple moving average is $121.91 and its 200 day simple moving average is $118.68.

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 for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. The firm had revenue of $2.03 billion during 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 revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last 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. On average, analysts anticipate that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's payout ratio is presently 247.14%.

Insider Transactions at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $578,000.00. Following the completion of the transaction, the executive vice president owned 75,634 shares in the company, valued at $8,743,290.40. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a document filed 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, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total value of $4,389,113.92. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,389,113.92. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 132,422 shares of company stock valued at $15,803,807 over the last three months. Company insiders own 1.70% of the company's stock.

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.