Korea Investment CORP Makes New $27.61 Million Investment in Iron Mountain Incorporated $IRM

Key Points

• Korea Investment Corp. purchased 218,594 Iron Mountain shares worth approximately $27.61 million in the second quarter, giving it a 0.07% stake. Institutional investors collectively own 80.13% of the company.
• Iron Mountain reported quarterly earnings of $0.60 per share, beating estimates by $0.06, while revenue rose 18.5% year over year to $2.03 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $135.17.
• The company declared a quarterly dividend of $0.864 per share, equivalent to an annualized $3.46 payout and a 2.8% yield. Meanwhile, insiders sold 127,422 shares worth approximately $15.81 million over the past three months.

Korea Investment CORP purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 218,594 shares of the financial services provider's stock, valued at approximately $27,611,000. Korea Investment CORP owned approximately 0.07% of Iron Mountain at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new position in Iron Mountain during the 4th quarter worth about $25,000. Bell Investment Advisors Inc bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $27,000. Beaird Harris Wealth Management LLC lifted its position in shares of Iron Mountain by 17,500.0% in the 4th 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 during the period. Finally, Dynamic Wealth Strategies LLC bought a new position in shares of Iron Mountain during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRM. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased 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. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised Iron Mountain from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and an average target price of $135.17.

Iron Mountain Stock Down 0.6%

NYSE IRM opened at $122.19 on Friday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The company has a 50 day moving average price of $124.52 and a 200 day moving average price of $117.08. The firm has a market cap of $36.38 billion, a PE ratio of 87.28 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its 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. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm earned $1.24 earnings per share. Iron Mountain's revenue was up 18.5% compared to the same quarter last year. 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, equities research 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 will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a $0.864 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. Iron Mountain's dividend payout ratio (DPR) is presently 247.14%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the sale, the executive vice president directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. This represents a 50.00% 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 sold a total of 127,422 shares of company stock valued at $15,810,652 in the last three months. Insiders own 1.70% of the company's stock.

About Iron Mountain

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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