Iron Mountain (NYSE:IRM) CEO Sells $4,389,113.92 in Stock

Key Points

• CEO William Meaney sold 38,474 Iron Mountain shares at an average price of $114.08, totaling $4.39 million and reducing his position by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Iron Mountain shares fell 2.0% to $111.96, while the company reported quarterly revenue of $2.03 billion and EPS of $0.60, exceeding analyst expectations. It also declared a quarterly dividend of $0.864 per share, representing a 3.1% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $137.67, although some firms recently downgraded the stock to “Hold.” Institutional investors own approximately 80.13% of the company.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William Meaney sold 38,474 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total value of $4,389,113.92. Following the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,389,113.92. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Trading Down 2.0%

Shares of Iron Mountain stock traded down $2.26 on Wednesday, reaching $111.96. 2,651,386 shares of the stock were exchanged, compared to its average volume of 1,763,109. The firm has a market capitalization of $33.33 billion, a PE ratio of 79.97 and a beta of 1.18. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The business has a fifty day moving average price of $123.17 and a two-hundred day moving average price of $118.49.

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

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.864 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. Iron Mountain's payout ratio is 246.43%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IRM. Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Truist Financial upped their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Weiss Ratings cut shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Finally, 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 research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $137.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Iron Mountain by 12,879.2% in the second quarter. California State Teachers Retirement System now owns 54,885,358 shares of the financial services provider's stock valued at $6,932,570,000 after purchasing an additional 54,462,487 shares during the period. BlackRock Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $4,240,342,000. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter valued at $368,890,000. Legal & General Group Plc purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 29,674.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider's stock worth $403,379,000 after buying an additional 3,182,834 shares during the last quarter. Institutional investors and hedge funds own 80.13% 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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