Public Employees Retirement System of Ohio Invests $53.38 Million in Iron Mountain Incorporated $IRM

Public Employees Retirement System of Ohio bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the second quarter, Holdings Channel.com reports. The institutional investor bought 422,586 shares of the financial services provider’s stock, valued at approximately $53,377,000.

Other large investors have also made changes to their positions in the company. Garton & Associates Financial Advisors LLC acquired a new position in Iron Mountain during the 4th quarter valued at about $25,000. Bell Investment Advisors Inc purchased a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in Iron Mountain in the 2nd quarter worth approximately $27,000. Beaird Harris Wealth Management LLC increased its stake in Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC purchased a new position in shares of Iron Mountain in the first quarter worth $31,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 1.1%

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. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68. The stock has a market cap of $36.53 billion, a P/E ratio of 87.66 and a beta of 1.20.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 negative return on equity of 85.44% and a net margin of 5.54%.The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter 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, analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend

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

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer owned 38,474 shares of the company’s stock, valued at $4,681,131.58. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 company’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 sale, the executive vice president directly owned 101,507 shares in the company, valued at $12,454,908.90. This represents a 5.58% 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. In the last three months, insiders sold 127,422 shares of company stock valued at $15,810,652. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Truist Financial lifted their price objective on Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays lifted their price target on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings downgraded Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus 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.