Bank of New York Mellon Corp Lowers Stake in Iron Mountain Incorporated $IRM

Bank of New York Mellon Corp reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 3.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,624,836 shares of the financial services provider’s stock after selling 61,142 shares during the period. Bank of New York Mellon Corp’s holdings in Iron Mountain were worth $165,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Iron Mountain during the 4th quarter valued at $368,890,000. Cohen & Steers Inc. increased its stake in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after buying an additional 3,155,034 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after acquiring an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after acquiring an additional 1,680,438 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after acquiring an additional 776,933 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, Director Walter C. Rakowich sold 757 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total transaction of $94,208.65. Following the completion of the transaction, the director directly owned 1,135 shares in the company, valued at approximately $141,250.75. This represents a 40.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total value of $244,011.24. Following the transaction, the director owned 40,196 shares of the company’s stock, valued at $5,184,078.12. This represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 137,260 shares of company stock worth $17,361,672. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of several research analyst reports. Wall Street Zen upgraded Iron Mountain from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings cut Iron Mountain from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Barclays upped their price target on Iron Mountain from $127.00 to $143.00 and gave the stock 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, JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Iron Mountain Stock Up 1.7%

Shares of Iron Mountain stock opened at $123.73 on Friday. The firm has a market cap of $36.81 billion, a price-to-earnings ratio of 135.96 and a beta of 1.19. The business has a 50-day moving average price of $125.46 and a 200-day moving average price of $110.97. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. 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 was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. 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 expect that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a $0.864 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.8%. Iron Mountain’s payout ratio is presently 379.12%.

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.