Jupiter Topco LLC Acquires Shares of 33,266 Iron Mountain Incorporated $IRM

Key Points

• Jupiter Topco LLC purchased 33,266 Iron Mountain shares worth approximately $4.2 million during the second quarter. Institutional investors collectively own 80.13% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $137.67.
• Iron Mountain exceeded quarterly expectations with $0.60 in adjusted earnings per share and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, equivalent to a 3.0% annualized yield.

Jupiter Topco LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,266 shares of the financial services provider's stock, valued at approximately $4,201,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRM. BlackRock Inc. bought a new stake in Iron Mountain during the second quarter worth $4,240,342,000. Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter valued at $368,890,000. Legal & General Group Plc bought a new stake in shares of Iron Mountain during the 2nd quarter worth $409,843,000. Cohen & Steers Inc. grew its position in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock valued at $1,568,110,000 after buying an additional 3,155,034 shares during the period. Finally, Deutsche Bank AG bought a new position in Iron Mountain during the second quarter valued at about $385,129,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research reports. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Truist Financial lifted their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Barclays upped their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $137.67.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the sale, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Friday, August 7th. The shares were 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 approximately $12,454,908.90. The trade was a 5.58% decrease in their ownership of the stock. 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 sold 82,948 shares of company stock valued at $10,143,093 over the last 90 days. 1.70% of the stock is owned by company insiders.

Iron Mountain Price Performance

NYSE:IRM opened at $113.88 on Wednesday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The stock's fifty day moving average price is $123.17 and its two-hundred day moving average price is $118.49. The company has a market cap of $33.90 billion, a P/E ratio of 81.34 and a beta of 1.18.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The company 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 firm's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business 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. On average, analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio is presently 247.14%.

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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