Legal & General Group Plc Grows Holdings in Iron Mountain Incorporated $IRM

Key Points

• Legal & General Group Plc increased its Iron Mountain stake by 4.4% in the fourth quarter, adding 140,965 shares and bringing its holding to 3.36 million shares valued at about $278.4 million.
• Iron Mountain reported stronger-than-expected quarterly results, posting $0.60 EPS versus the $0.50 estimate and revenue of $1.94 billion, up 21.5% year over year. The company also reiterated guidance for Q2 2026 and FY 2026.
• The stock has attracted mixed signals from insiders and analysts: insiders sold 505,960 shares worth $55.3 million over the last 90 days, while analysts maintain a “Moderate Buy” consensus with an average target price of $131.67.

Legal & General Group Plc grew its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,356,420 shares of the financial services provider's stock after buying an additional 140,965 shares during the period. Legal & General Group Plc owned approximately 1.14% of Iron Mountain worth $278,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intact Investment Management Inc. purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $3,588,000. NewSquare Capital LLC boosted its stake in shares of Iron Mountain by 4,867.6% in the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider's stock valued at $1,205,000 after purchasing an additional 11,585 shares in the last quarter. Fieldview Capital Management LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $3,092,000. J.W. Cole Advisors Inc. boosted its stake in shares of Iron Mountain by 54.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 33,596 shares of the financial services provider's stock valued at $3,425,000 after purchasing an additional 11,893 shares in the last quarter. Finally, AGF Management Ltd. boosted its stake in shares of Iron Mountain by 178.0% in the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider's stock valued at $2,262,000 after purchasing an additional 14,205 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 1.8%

NYSE:IRM opened at $128.72 on Wednesday. The company has a fifty day moving average of $114.69 and a 200 day moving average of $100.82. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.09. The firm has a market capitalization of $38.30 billion, a P/E ratio of 141.45 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $1.17 EPS. The firm's revenue was up 21.5% compared to the same quarter last year. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, analysts anticipate that Iron Mountain Incorporated will post 5.4 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be issued a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 annualized dividend and a yield of 2.7%. Iron Mountain's dividend payout ratio is 379.12%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 137,133 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total value of $15,000,978.87. Following the completion of the transaction, the chief executive officer directly owned 295,975 shares in the company, valued at approximately $32,376,705.25. This represents a 31.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 59,725 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the transaction, the executive vice president owned 16,054 shares of the company's stock, valued at $1,679,569.48. This trade represents a 78.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 505,960 shares of company stock worth $55,265,802. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Barclays upped their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.67.

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.

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.