Iron Mountain Incorporated $IRM Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Iron Mountain stake by 5.4% in the third quarter, selling 48,856 shares and retaining 847,704 shares valued at approximately $94.1 million. Institutional investors and hedge funds collectively own 80.13% of the company.
• Iron Mountain reported quarterly EPS of $0.60, exceeding estimates by $0.06, while revenue rose 18.5% year over year to $2.03 billion. The company also pays a quarterly dividend of $0.864 per share, yielding about 3.0% annually.
• Analysts remain broadly positive, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $143.89, compared with shares trading near $115.10.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 847,704 shares of the financial services provider's stock after selling 48,856 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Iron Mountain worth $94,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Iron Mountain in the second quarter valued at about $4,240,342,000. Principal Financial Group Inc. grew its holdings in Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider's stock worth $466,382,000 after acquiring an additional 358,497 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Iron Mountain by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider's stock worth $464,931,000 after acquiring an additional 122,927 shares during the last quarter. Legal & General Group Plc bought a new stake in Iron Mountain during the 2nd quarter worth about $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Iron Mountain by 29,674.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider's stock valued at $403,379,000 after acquiring an additional 3,182,834 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $693,600.00. Following the transaction, the executive vice president directly owned 95,507 shares of the company's stock, valued at approximately $11,040,609.20. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 the firm'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 directly owned 38,474 shares in the company, valued at approximately $4,249,453.30. The trade was a 50.00% 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. Insiders sold a total of 137,422 shares of company stock valued at $15,881,099 over the last ninety days. Insiders own 1.70% of the company's stock.

Iron Mountain Stock Down 1.2%

Shares of IRM opened at $115.10 on Tuesday. The stock's fifty day simple moving average is $114.53 and its 200-day simple moving average is $115.01. The firm has a market capitalization of $34.27 billion, a PE ratio of 82.21 and a beta of 1.17. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 EPS 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 analyst estimates 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 last year, the company earned $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. Analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently declared 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 was Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. Iron Mountain's payout ratio is currently 246.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $138.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. BNP Paribas Exane increased their price target on shares of Iron Mountain from $138.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Truist Financial boosted their price objective 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $153.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.89.

Iron Mountain Profile

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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