Madison Asset Management LLC Purchases Shares of 17,052 Iron Mountain Incorporated $IRM

Madison Asset Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,052 shares of the financial services provider’s stock, valued at approximately $2,154,000.

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

Iron Mountain Trading Up 0.8%

Shares of IRM stock opened at $123.09 on Friday. The company has a market capitalization of $36.64 billion, a P/E ratio of 87.92 and a beta of 1.20. The business’s 50 day moving average is $124.62 and its two-hundred day moving average is $117.04. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 247.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRM. Wells Fargo & Company boosted their price objective on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research note on Friday, May 1st. Finally, Barclays raised their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.17.

Insider Activity

In other news, 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 value of $4,681,131.58. Following the sale, the chief executive officer owned 38,474 shares of the company’s stock, valued at $4,681,131.58. The trade was a 50.00% decrease in their ownership of the stock. The sale 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, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 127,422 shares of company stock worth $15,810,652. Insiders own 1.70% of the company’s stock.

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.