Nykredit A S Takes Position in Iron Mountain Incorporated $IRM

Key Points

• Nykredit A/S acquired 104,462 Iron Mountain shares in the second quarter, valued at approximately $13.2 million. Institutional investors collectively own 80.13% of the company, with BlackRock, Norges Bank and Legal & General also adding positions.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 in EPS versus the $0.54 consensus and $2.03 billion in revenue, up 18.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.83.
• The company declared a quarterly dividend of $0.864 per share, equivalent to a 3.0% annual yield. Meanwhile, insiders sold 132,422 shares worth approximately $15.8 million during the last quarter, including sales by the CEO and an executive vice president.

Nykredit A S bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 104,462 shares of the financial services provider's stock, valued at approximately $13,195,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Iron Mountain in the 2nd quarter valued at approximately $4,240,342,000. Norges Bank acquired a new position in Iron Mountain during the 4th quarter worth about $368,890,000. Legal & General Group Plc bought a new stake in Iron Mountain in the second quarter valued at approximately $409,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 last quarter. Finally, Cohen & Steers Inc. boosted its position in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of IRM opened at $114.30 on Monday. The stock's 50-day simple moving average is $120.97 and its 200 day simple moving average is $118.93. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The stock has a market capitalization of $34.03 billion, a price-to-earnings ratio of 81.64 and a beta of 1.18.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. Iron Mountain's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. On average, research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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 issued a dividend of $0.864 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. Iron Mountain's payout ratio is presently 246.43%.

Insiders Place Their Bets

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $122.70, for a total value of $736,200.00. Following the transaction, the executive vice president owned 101,507 shares of the company's stock, valued at $12,454,908.90. This represents a 5.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock in a transaction on 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 directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 132,422 shares of company stock valued at $15,803,807 in the last quarter. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Iron Mountain Company Profile

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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