NewEdge Advisors LLC Buys 14,455 Shares of Iron Mountain Incorporated $IRM

Key Points

• NewEdge Advisors increased its Iron Mountain stake by 34.6% in the second quarter, adding 14,455 shares to own 56,273 shares valued at approximately $7.1 million. Institutional investors collectively hold 80.13% of IRM’s outstanding stock.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $137.83. Recent targets range from $140 to $155.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 in EPS versus $0.54 expected and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, a 3.0% annualized yield.

NewEdge Advisors LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 34.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,273 shares of the financial services provider's stock after acquiring an additional 14,455 shares during the period. NewEdge Advisors LLC's holdings in Iron Mountain were worth $7,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IRM. California State Teachers Retirement System lifted its stake in Iron Mountain by 12,879.2% in the second quarter. California State Teachers Retirement System now owns 54,885,358 shares of the financial services provider's stock valued at $6,932,570,000 after buying an additional 54,462,487 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Iron Mountain during the second quarter worth $4,240,342,000. Norges Bank acquired a new stake in shares of Iron Mountain during the fourth quarter worth $368,890,000. Legal & General Group Plc acquired a new stake in shares of Iron Mountain during the second quarter worth $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 purchasing an additional 3,182,834 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent research reports. Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings cut Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Barclays upped their price target on Iron Mountain from $143.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. Truist Financial raised their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Company lifted their price objective 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. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.83.

Iron Mountain Stock Performance

NYSE:IRM opened at $115.12 on Monday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The company has a market cap of $34.27 billion, a P/E ratio of 82.23 and a beta of 1.18. The stock's 50-day simple moving average is $121.46 and its 200 day simple moving average is $118.85.

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

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's payout ratio is presently 247.14%.

Insiders Place Their Bets

In other news, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $578,000.00. Following the completion of the transaction, the executive vice president owned 75,634 shares of the company's stock, valued at $8,743,290.40. This trade represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at $4,389,113.92. This represents a 50.00% decrease in their ownership of the stock. 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 three months, insiders have sold 132,422 shares of company stock valued at $15,803,807. 1.70% of the stock is currently owned by corporate insiders.

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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