Pasadena Private Wealth LLC Invests $2.73 Million in Iron Mountain Incorporated $IRM

Pasadena Private Wealth LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, HoldingsChannel reports. The fund acquired 21,601 shares of the financial services provider’s stock, valued at approximately $2,728,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Iron Mountain in the second quarter valued at $4,240,342,000. Norges Bank acquired a new position in shares of Iron Mountain during the 4th quarter worth about $368,890,000. Cohen & Steers Inc. increased its stake in shares of Iron Mountain by 20.0% during 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 during the last quarter. Deutsche Bank AG bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $385,129,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Iron Mountain by 597.9% in the 3rd 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 purchasing an additional 2,708,560 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the transaction, the executive vice president owned 101,507 shares of the company’s stock, valued at $12,454,908.90. The trade was a 5.58% decrease in their ownership of the stock. The transaction 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, CEO William L. Meaney sold 38,474 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at $4,681,131.58. This represents a 50.00% 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. Over the last quarter, insiders have sold 127,422 shares of company stock valued at $15,810,652. Corporate insiders own 1.70% of the company’s stock.

Iron Mountain Stock Down 3.7%

Shares of NYSE:IRM opened at $121.96 on Thursday. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68. The company’s 50 day moving average price is $124.66 and its two-hundred day moving average price is $116.83. The firm has a market cap of $36.31 billion, a PE ratio of 87.12 and a beta of 1.20.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. 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. On average, research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a $0.864 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 annualized dividend and a yield of 2.8%. Iron Mountain’s payout ratio is currently 247.14%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Barclays raised their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.17.

About Iron Mountain

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.