The Manufacturers Life Insurance Company bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 166,497 shares of the financial services provider's stock, valued at approximately $21,030,000. The Manufacturers Life Insurance Company owned about 0.06% of Iron Mountain at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at about $25,000. Bell Investment Advisors Inc purchased a new position in shares of Iron Mountain during the 2nd quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in Iron Mountain during the second quarter valued at about $27,000. Beaird Harris Wealth Management LLC grew its stake in shares of Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 350 shares during the period. Finally, Dynamic Wealth Strategies LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $31,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IRM has been the subject of a number of recent analyst reports. Weiss Ratings lowered Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted 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. Truist Financial raised their price objective on Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Barclays boosted their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.67.
Check Out Our Latest Analysis on IRM
Insider Buying and Selling
In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the transaction, the executive vice president owned 101,507 shares in the company, valued at $12,454,908.90. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 company's 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 $4,681,131.58. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,422 shares of company stock valued at $15,810,652 over the last three months. 1.70% of the stock is owned by corporate insiders.
Iron Mountain Trading Up 1.1%
IRM stock opened at $122.72 on Friday. The stock has a market cap of $36.53 billion, a PE ratio of 87.66 and a beta of 1.20. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company has a 50-day moving average price of $124.09 and a 200 day moving average price of $118.14.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 5.54% and a negative return on equity of 85.44%. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the company 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. Sell-side analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.
Iron Mountain Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's dividend payout ratio is presently 247.14%.
Iron Mountain Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).
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