National Pension Service Purchases 25,423 Shares of Iron Mountain Incorporated $IRM

Key Points

• National Pension Service increased its Iron Mountain stake by 5.9%, purchasing 25,423 shares to own 454,815 shares valued at approximately $57.4 million. Institutional investors and hedge funds collectively own 80.13% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $137.83.
• Iron Mountain exceeded quarterly earnings and revenue expectations, reporting $0.60 in EPS and $2.03 billion in revenue, while announcing a quarterly dividend of $0.864 per share, representing a 3.0% annualized yield.

National Pension Service boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,815 shares of the financial services provider's stock after acquiring an additional 25,423 shares during the period. National Pension Service owned 0.15% of Iron Mountain worth $57,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in IRM. Brown Financial Advisors increased its position in Iron Mountain by 3.6% during the 2nd quarter. Brown Financial Advisors now owns 2,580 shares of the financial services provider's stock valued at $326,000 after buying an additional 90 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Iron Mountain by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider's stock valued at $3,461,000 after acquiring an additional 100 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Iron Mountain by 15.4% in the 4th quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 104 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Iron Mountain by 2.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider's stock worth $382,000 after purchasing an additional 107 shares in the last quarter. Finally, Corrado Advisors LLC grew its position in Iron Mountain by 0.6% during the 4th quarter. Corrado Advisors LLC now owns 19,856 shares of the financial services provider's stock worth $1,647,000 after purchasing an additional 110 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Greg McIntosh sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total transaction of $578,000.00. Following the sale, the executive vice president directly owned 75,634 shares of the company's stock, valued at $8,743,290.40. This represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of Iron Mountain stock in a transaction dated 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 completion of the transaction, the chief executive officer 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 132,422 shares of company stock worth $15,803,807. Company insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Truist Financial raised their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Weiss Ratings cut Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Barclays boosted their price target on Iron Mountain from $143.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.83.

Iron Mountain Stock Up 2.0%

Shares of IRM opened at $115.12 on Friday. The company has a market capitalization of $34.27 billion, a price-to-earnings ratio of 82.23 and a beta of 1.18. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock's 50-day moving average price is $121.46 and its 200-day moving average price is $118.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.Iron Mountain's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company 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. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued 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 yield of 3.0%. Iron Mountain's payout ratio is presently 246.43%.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global information management and data storage company. Founded in 1951, the company helps organizations protect, manage and preserve physical and digital information throughout its lifecycle.

Its services include records storage, document management, secure shredding and destruction, information governance, data backup and recovery, and digital transformation. Iron Mountain also operates data centers that support colocation, cloud connectivity and other infrastructure needs for businesses and public-sector organizations.

The company serves customers across a range of industries, including financial services, healthcare, government, legal services and entertainment.

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