6,368 Iron Mountain Incorporated $IRM Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,786 shares of the financial services provider’s stock after selling 6,368 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Iron Mountain were worth $7,854,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IRM. Brown Financial Advisors lifted its stake in Iron Mountain by 3.6% in the 2nd quarter. Brown Financial Advisors now owns 2,580 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 90 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Iron Mountain by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider’s stock valued at $3,461,000 after purchasing an additional 100 shares during the period. Eastern Bank grew its position in shares of Iron Mountain by 14.4% during the 3rd quarter. Eastern Bank now owns 841 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 106 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Iron Mountain by 2.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 107 shares in the last quarter. Finally, Essential Partners LLC increased its holdings in shares of Iron Mountain by 24.4% in the first quarter. Essential Partners LLC now owns 561 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $114.64 on Wednesday. The firm has a market capitalization of $34.13 billion, a PE ratio of 81.89 and a beta of 1.17. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The firm has a fifty day moving average of $117.45 and a 200 day moving average of $119.93.

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. 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 for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. 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, sell-side analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were given a $0.8640 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s payout ratio is presently 247.14%.

Wall Street Analyst Weigh In

IRM has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Truist Financial raised their price target on Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Rothschild & Co Redburn started coverage on Iron Mountain in a report on Monday, September 21st. They issued a “buy” rating and a $132.00 price target on the stock. Weiss Ratings downgraded Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Barclays boosted their price objective on Iron Mountain from $143.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $139.83.

Insider Buying and Selling

In other news, EVP Greg W. Mcintosh sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $110.72, for a total value of $553,600.00. Following the completion of the sale, the executive vice president directly owned 70,634 shares in the company, valued at approximately $7,820,596.48. The trade was a 6.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 that occurred on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the completion of the sale, the executive vice president owned 95,507 shares of the company’s stock, valued at approximately $11,040,609.20. The trade was a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,422 shares of company stock worth $15,881,099 in the last quarter. 1.70% of the stock is owned by insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and data center services company. It helps organizations protect, manage and access physical and digital information, including business records, documents, backup media and other critical assets.

The company provides records storage and retrieval, secure shredding and destruction, information governance, digitization, document management and data migration services. Iron Mountain also operates data centers and offers colocation, hybrid cloud and related infrastructure services.