Norges Bank Makes New $368.89 Million Investment in Iron Mountain Incorporated $IRM

Key Points

• Norges Bank bought a new Iron Mountain position in Q4, acquiring 4,447,133 shares valued at about $368.89 million and ending with roughly 1.5% ownership of the company.
• Iron Mountain reported stronger-than-expected Q1 earnings, with EPS of $0.60 versus estimates of $0.50 and revenue of $1.94 billion, up 21.5% year over year.
• The company also announced a quarterly dividend of $0.864 per share, implying an annualized payout of $3.46 and a 2.7% yield.

Norges Bank purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,447,133 shares of the financial services provider's stock, valued at approximately $368,890,000. Norges Bank owned about 1.50% of Iron Mountain at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in shares of Iron Mountain during the third quarter worth $32,000. Wealth Watch Advisors INC purchased a new position in shares of Iron Mountain during the third quarter worth $44,000. Franchise GP Ltd purchased a new position in shares of Iron Mountain during the fourth quarter worth $38,000. Washington Trust Advisors Inc. purchased a new position in shares of Iron Mountain during the third quarter worth $54,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

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

Iron Mountain Stock Performance

NYSE:IRM opened at $126.07 on Tuesday. The stock has a market capitalization of $37.51 billion, a P/E ratio of 138.54 and a beta of 1.19. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.09. The company has a 50 day moving average price of $116.32 and a 200 day moving average price of $101.52.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $1.17 EPS. The firm's quarterly revenue was up 21.5% on a year-over-year basis. 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. Research analysts forecast that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be given a dividend of $0.864 per share. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. Iron Mountain's payout ratio is presently 380.22%.

Insider Activity at Iron Mountain

In related news, Director Pamela M. Arway sold 1,892 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total value of $244,011.24. Following the completion of the sale, the director directly owned 40,196 shares in the company, valued at approximately $5,184,078.12. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the sale, the executive vice president owned 16,054 shares of the company's stock, valued at approximately $1,679,569.48. The trade was a 78.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 355,827 shares of company stock valued at $38,859,043 in the last quarter. 1.70% of the stock is owned by corporate insiders.

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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