Varma Mutual Pension Insurance Co bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 67,938 shares of the financial services provider's stock, valued at approximately $8,581,000.
A number of other hedge funds and other institutional investors have also modified their holdings of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after buying an additional 1,286 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP lifted its position in shares of Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock valued at $2,129,000 after acquiring an additional 7,193 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Iron Mountain by 29.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 300 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Iron Mountain by 3.6% in the 2nd quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock worth $3,620,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.
Insiders Place Their Bets
In related news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was 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 owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 101,507 shares in the company, valued at $12,454,908.90. This trade represents a 5.58% 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. In the last three months, insiders have sold 127,422 shares of company stock valued at $15,810,652. Company insiders own 1.70% of the company's stock.
Iron Mountain Price Performance
Shares of NYSE:IRM opened at $122.19 on Monday. The stock has a market capitalization of $36.38 billion, a P/E ratio of 87.28 and a beta of 1.20. The business has a 50-day moving average of $124.52 and a two-hundred day moving average of $117.27. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The firm's revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $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, research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.
Iron Mountain Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's dividend payout ratio (DPR) is 247.14%.
Wall Street Analysts Forecast Growth
IRM has been the subject of several research analyst reports. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Wells Fargo & Company upped their target price on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Barclays raised their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Finally, Truist Financial set a $140.00 price objective on shares of Iron Mountain in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.17.
Read Our Latest Report on IRM
Iron Mountain Company Profile
(
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.
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