Connor Clark & Lunn Investment Management Ltd. Invests $2.27 Million in Iron Mountain Incorporated $IRM

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,996 shares of the financial services provider’s stock, valued at approximately $2,273,000.

A number of other large investors have also recently added to or reduced their stakes in IRM. Bell Investment Advisors Inc bought a new position in shares of Iron Mountain in the second quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth $27,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter worth $34,000. Elevation Wealth Partners LLC raised its position in shares of Iron Mountain by 444.2% during the second quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 231 shares during the period. Finally, Dynamic Wealth Strategies LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $31,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

IRM opened at $117.55 on Friday. The company has a market capitalization of $34.99 billion, a PE ratio of 83.96 and a beta of 1.20. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The business has a 50-day moving average of $123.89 and a 200-day moving average of $118.13.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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, equities research analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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 paid a dividend of $0.864 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. Iron Mountain’s dividend payout ratio is 247.14%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of recent analyst reports. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Barclays upped their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company lifted their target price on shares of 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 upped their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Weiss Ratings lowered shares of 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.67.

Insiders Place Their Bets

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 on 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 of the company’s stock, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their position. 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. Insiders have sold a total of 127,422 shares of company stock worth $15,810,652 in the last 90 days. 1.70% of the stock is owned by insiders.

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.