Principal Financial Group Inc. Buys 1,680,438 Shares of Iron Mountain Incorporated $IRM

Principal Financial Group Inc. boosted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 66.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,207,596 shares of the financial services provider's stock after acquiring an additional 1,680,438 shares during the period. Principal Financial Group Inc. owned 1.42% of Iron Mountain worth $349,021,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IRM. Quent Capital LLC bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $32,000. Franchise GP Ltd bought a new stake in Iron Mountain during the 4th quarter valued at approximately $38,000. Wealth Watch Advisors INC bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $44,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Iron Mountain during the 4th quarter valued at approximately $45,000. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IRM shares. Zacks Research cut Iron Mountain from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Loop Capital set a $130.00 target price on shares of Iron Mountain in a report on Wednesday, March 4th. JPMorgan Chase & Co. boosted their target price 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. Barclays boosted their target price 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. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.67.

Insider Activity

In related news, Director Jennifer Allerton sold 7,000 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the transaction, the director owned 11,541 shares in the company, valued at $1,256,584.08. The trade was a 37.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $616,260.00. Following the completion of the transaction, the executive vice president owned 125,507 shares in the company, valued at approximately $12,890,823.97. The trade was a 4.56% 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. In the last quarter, insiders have sold 451,648 shares of company stock worth $48,297,449. 1.70% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 2.8%

Shares of IRM opened at $131.76 on Wednesday. The business's 50 day moving average price is $109.16 and its 200-day moving average price is $98.37. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $131.83. The stock has a market cap of $39.20 billion, a P/E ratio of 144.79 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.93. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.86 billion. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The business's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. 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. On average, equities analysts anticipate that Iron Mountain Incorporated will post 5.26 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be paid a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.6%. Iron Mountain's payout ratio is presently 380.22%.

Iron Mountain Company 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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