Legal & General Group Plc Invests $409.84 Million in Iron Mountain Incorporated $IRM

Legal & General Group Plc purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,244,741 shares of the financial services provider’s stock, valued at approximately $409,843,000. Legal & General Group Plc owned 1.09% of Iron Mountain at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at approximately $27,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at approximately $34,000. Elevation Wealth Partners LLC lifted its position in Iron Mountain by 444.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock worth $36,000 after buying an additional 231 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC purchased a new stake in Iron Mountain in the 1st quarter worth approximately $31,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 0.3%

IRM stock opened at $120.83 on Wednesday. The firm has a 50 day moving average of $124.28 and a two-hundred day moving average of $117.72. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company has a market capitalization of $35.97 billion, a price-to-earnings ratio of 86.31 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 business had revenue of $2.03 billion for 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%. Iron Mountain’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. 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 fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 247.14%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 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 sale, the executive vice president owned 101,507 shares of the company’s stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,422 shares of company stock valued at $15,810,652 in the last ninety days. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Barclays lifted 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. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $135.17.

Iron Mountain 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.