OP Asset Management Ltd Acquires New Shares in Iron Mountain Incorporated $IRM

Key Points

• OP Asset Management opened a new position in Iron Mountain in the first quarter, buying 30,698 shares worth about $3.14 million.
• Insider selling was notable, with CEO William L. Meaney and EVP Mark Kidd both selling shares under pre-arranged Rule 10b5-1 plans; insiders sold 143,260 shares over the last 90 days.
• Iron Mountain beat quarterly expectations, reporting $0.60 EPS on $1.94 billion in revenue, and it also announced a quarterly dividend of $0.864 per share, implying a 2.6% yield.

OP Asset Management Ltd acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 30,698 shares of the financial services provider's stock, valued at approximately $3,135,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IRM. NewSquare Capital LLC grew its position in 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 worth $1,205,000 after purchasing an additional 11,585 shares during the period. Fieldview Capital Management LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at $3,092,000. BDFS Capital LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at $340,000. Allstate Corp boosted its stake in shares of Iron Mountain by 105.1% in the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock worth $1,860,000 after buying an additional 11,492 shares during the last quarter. Finally, Pensionfund Sabic bought a new stake in shares of Iron Mountain in the fourth quarter worth $1,559,000. Institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the sale, the executive vice president directly owned 113,507 shares in the company, valued at approximately $14,381,336.90. The trade was a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $127.55, for a total value of $4,907,358.70. Following the transaction, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $4,907,358.70. The trade was 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. In the last ninety days, insiders sold 143,260 shares of company stock valued at $17,203,835. 1.70% of the stock is owned by insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $132.42 on Friday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The firm's 50 day moving average price is $125.32 and its 200-day moving average price is $106.89. The stock has a market cap of $39.40 billion, a P/E ratio of 145.51 and a beta of 1.19.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. 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, equities analysts expect that Iron Mountain Incorporated will post 5.4 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders 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 dividend yield of 2.6%. Iron Mountain's dividend payout ratio (DPR) is presently 380.22%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company boosted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Iron Mountain has a consensus rating of "Moderate Buy" and an average price target of $131.67.

Iron Mountain Profile

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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