Public Employees Retirement System of Ohio Invests $53.38 Million in Iron Mountain Incorporated $IRM

Key Points

• Public Employees Retirement System of Ohio acquired 422,586 Iron Mountain shares worth approximately $53.4 million, while institutional investors collectively own 80.13% of the company.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 in earnings per share versus the $0.54 consensus and $2.03 billion in revenue, up 18.5% year over year.
• The company declared a quarterly dividend of $0.864 per share, equal to an annualized $3.46 payout and a 2.8% yield; analysts maintain a “Moderate Buy” consensus with a $137.67 price target.

Public Employees Retirement System of Ohio acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 422,586 shares of the financial services provider's stock, valued at approximately $53,377,000. Public Employees Retirement System of Ohio owned 0.14% of Iron Mountain at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Iron Mountain in the second quarter worth approximately $17,300,000. BDFS Capital LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $340,000. Allstate Corp boosted its stake in shares of Iron Mountain by 105.1% during the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock worth $1,860,000 after acquiring an additional 11,492 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Iron Mountain by 103.4% during the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider's stock valued at $5,939,000 after acquiring an additional 36,400 shares during the period. Finally, Stevens Capital Management LP purchased a new stake in shares of Iron Mountain in the 4th quarter worth $1,262,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 1.1%

Shares of Iron Mountain stock opened at $122.72 on Friday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The stock has a 50 day moving average of $124.09 and a 200 day moving average of $118.14. The firm has a market cap of $36.53 billion, a PE ratio of 87.66 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.Iron Mountain's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. 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 research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio is 247.14%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IRM. Truist Financial lifted their target price on Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings downgraded Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Barclays boosted their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.67.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the transaction, the executive vice president directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% 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. In the last quarter, insiders sold 127,422 shares of company stock worth $15,810,652. Insiders own 1.70% of the company's stock.

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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