Commerce Bank Purchases New Shares in Iron Mountain Incorporated $IRM

Commerce Bank purchased a new position in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,371 shares of the financial services provider’s stock, valued at approximately $2,068,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IRM. BlackRock Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $4,240,342,000. Norges Bank bought a new position in Iron Mountain in the 4th quarter valued at $368,890,000. Cohen & Steers Inc. grew its position in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares during the last quarter. Deutsche Bank AG purchased a new stake in Iron Mountain in the second quarter worth $385,129,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Iron Mountain stock in a transaction that occurred 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 directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. The trade was a 5.58% decrease in their ownership of the stock. 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 90 days, insiders sold 127,422 shares of company stock valued at $15,810,652. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Iron Mountain Stock Down 0.3%

Shares of NYSE IRM opened at $120.83 on Wednesday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The firm has a market cap of $35.97 billion, a PE ratio of 86.31 and a beta of 1.20. The business has a fifty day simple moving average of $124.28 and a two-hundred day simple moving average of $117.72.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 85.44% and a net margin of 5.54%.The business’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company 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 earnings per share for the current year.

Iron Mountain Announces Dividend

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

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.