Welch & Forbes LLC Sells 4,296 Shares of Iron Mountain Incorporated $IRM

Welch & Forbes LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 652,068 shares of the financial services provider’s stock after selling 4,296 shares during the period. Welch & Forbes LLC’s holdings in Iron Mountain were worth $66,602,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its holdings in shares of 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 purchasing an additional 3,155,034 shares in the last quarter. State Street Corp raised its holdings in shares of Iron Mountain by 1.9% during the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock valued at $1,759,494,000 after buying an additional 322,144 shares in the last quarter. Geode Capital Management LLC lifted its position in Iron Mountain by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock worth $685,374,000 after buying an additional 102,073 shares during the last quarter. Invesco Ltd. boosted its stake in 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 buying an additional 776,933 shares in the last quarter. Finally, Norges Bank purchased a new stake in Iron Mountain in the fourth quarter worth approximately $368,890,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on IRM. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Barclays increased their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 757 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total value of $94,208.65. Following the sale, the director owned 1,135 shares of the company’s stock, valued at $141,250.75. This trade represents a 40.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $126.70, for a total transaction of $760,200.00. Following the completion of the transaction, the executive vice president owned 113,507 shares in the company, valued at $14,381,336.90. The trade was a 5.02% 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. Insiders have sold a total of 137,260 shares of company stock worth $17,361,672 over the last ninety days. 1.70% of the stock is owned by company insiders.

Iron Mountain Price Performance

Iron Mountain stock traded up $1.82 during trading hours on Friday, reaching $121.30. The company had a trading volume of 1,834,409 shares, compared to its average volume of 1,734,949. The company has a 50-day moving average price of $126.07 and a 200 day moving average price of $109.50. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 133.29 and a beta of 1.19. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company 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. As a group, research analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were given a dividend of $0.864 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.46 annualized dividend and a yield of 2.8%. Iron Mountain’s dividend payout ratio is presently 380.22%.

Iron Mountain 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.