Westpac Banking Corp Acquires Shares of 25,195 Iron Mountain Incorporated $IRM

Westpac Banking Corp acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 25,195 shares of the financial services provider’s stock, valued at approximately $3,182,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BDFS Capital LLC purchased a new position in Iron Mountain in the fourth quarter valued at approximately $340,000. Allstate Corp lifted its position in shares of Iron Mountain by 105.1% during the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock worth $1,860,000 after buying an additional 11,492 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of Iron Mountain by 103.4% during the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock worth $5,939,000 after buying an additional 36,400 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Iron Mountain in the 4th quarter valued at $1,262,000. Finally, Deutsche Bank AG purchased a new position in shares of Iron Mountain in the 2nd quarter valued at $385,129,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on IRM shares. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays increased their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 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. Finally, Truist Financial set a $140.00 target price on shares of Iron Mountain in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $135.17.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the sale, the executive vice president owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. The trade was 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. Insiders sold a total of 127,422 shares of company stock valued at $15,810,652 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Iron Mountain Trading Down 0.6%

Shares of IRM stock opened at $122.19 on Friday. The company has a market capitalization of $36.38 billion, a P/E ratio of 87.28 and a beta of 1.20. The business’s 50 day moving average is $124.52 and its two-hundred day moving average is $117.08. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68.

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

Iron Mountain Dividend Announcement

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

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.