Korea Investment CORP Invests $27.61 Million in Iron Mountain Incorporated $IRM

Korea Investment CORP acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the second quarter, Holdings Channel reports. The institutional investor acquired 218,594 shares of the financial services provider’s stock, valued at approximately $27,611,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Iron Mountain in the 2nd quarter worth $4,240,342,000. Norges Bank purchased a new stake in Iron Mountain during the 4th quarter valued at about $368,890,000. Cohen & Steers Inc. increased its holdings in shares of Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after purchasing an additional 3,155,034 shares during the period. Deutsche Bank AG acquired a new position in shares of Iron Mountain in the second quarter valued at about $385,129,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock worth $322,292,000 after purchasing an additional 2,708,560 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.6%

Shares of IRM opened at $122.19 on Friday. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 87.28 and a beta of 1.20. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock’s 50-day moving average price is $124.52 and its 200-day moving average price is $117.08.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating 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 analysts’ expectations of $1.97 billion. During the same period last year, the business earned $1.24 earnings per share. Iron Mountain’s quarterly revenue 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. As a group, equities analysts anticipate 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 will be paid on Friday, October 2nd. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s payout ratio is 247.14%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the company’s 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 completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $122.70, for a total value of $736,200.00. Following the sale, the executive vice president owned 101,507 shares in the company, valued at $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. Insiders have sold 127,422 shares of company stock worth $15,810,652 over the last three months. 1.70% of the stock is currently owned by insiders.

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.