166,497 Shares in Iron Mountain Incorporated $IRM Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 166,497 shares of the financial services provider’s stock, valued at approximately $21,030,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Iron Mountain in the 2nd quarter worth $4,240,342,000. Cohen & Steers Inc. boosted its position in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. State Street Corp grew its stake in Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock valued at $1,759,494,000 after purchasing an additional 322,144 shares during the last quarter. Geode Capital Management LLC grew its stake in Iron Mountain by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after purchasing an additional 102,073 shares during the last quarter. Finally, Invesco Ltd. raised its holdings 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 purchasing an additional 776,933 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $12,454,908.90. This trade represents a 5.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Iron Mountain stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $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 three months, insiders sold 127,422 shares of company stock worth $15,810,652. 1.70% of the stock is owned by insiders.

Iron Mountain Stock Up 1.1%

Shares of Iron Mountain stock opened at $122.72 on Friday. The company has a 50 day moving average price of $124.09 and a 200 day moving average price of $118.14. The firm has a market capitalization of $36.53 billion, a P/E ratio of 87.66 and a beta of 1.20. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. Iron Mountain’s revenue was up 18.5% compared to the same quarter last year. 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 anticipate that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Barclays raised their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company upped their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.67.

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.