CIBC Asset Management Inc Buys 29,110 Shares of Iron Mountain Incorporated $IRM

CIBC Asset Management Inc boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 68.0% during the fourth quarter, Holdings Channel reports. The fund owned 71,901 shares of the financial services provider’s stock after acquiring an additional 29,110 shares during the period. CIBC Asset Management Inc’s holdings in Iron Mountain were worth $5,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Iron Mountain by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,685,978 shares of the financial services provider’s stock worth $139,852,000 after acquiring an additional 19,418 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Iron Mountain by 29.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,524,559 shares of the financial services provider’s stock worth $126,462,000 after acquiring an additional 346,962 shares during the last quarter. Westpac Banking Corp grew its holdings in Iron Mountain by 26.6% during the 4th quarter. Westpac Banking Corp now owns 23,370 shares of the financial services provider’s stock worth $1,939,000 after acquiring an additional 4,914 shares during the last quarter. Heritage Trust Co grew its holdings in Iron Mountain by 31.4% during the 4th quarter. Heritage Trust Co now owns 27,806 shares of the financial services provider’s stock worth $2,307,000 after acquiring an additional 6,652 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Iron Mountain by 14.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,446,597 shares of the financial services provider’s stock worth $119,995,000 after acquiring an additional 177,130 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $127.91, for a total value of $767,460.00. Following the completion of the transaction, the executive vice president owned 119,507 shares in the company, valued at $15,286,140.37. This represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the transaction, the executive vice president owned 16,054 shares of the company’s stock, valued at $1,679,569.48. This trade represents a 78.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,985 shares of company stock valued at $23,452,265. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IRM shares. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Truist Financial set a $140.00 target price on shares of Iron Mountain in a research note on Friday, May 1st. Wells Fargo & Company raised their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.67.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $124.82 on Friday. The stock has a market cap of $37.14 billion, a P/E ratio of 137.16 and a beta of 1.19. The firm has a 50 day moving average price of $118.50 and a 200 day moving average price of $102.42. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.09.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. Analysts predict that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is 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 380.22%.

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.