Legal & General Group Plc Purchases Shares of 3,244,741 Iron Mountain Incorporated $IRM

Legal & General Group Plc purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,244,741 shares of the financial services provider’s stock, valued at approximately $409,843,000.

A number of other institutional investors have also made changes to their positions in the business. Garton & Associates Financial Advisors LLC bought a new stake in Iron Mountain during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc bought a new position in Iron Mountain in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new position in Iron Mountain in the 2nd quarter worth approximately $27,000. Beaird Harris Wealth Management LLC lifted its holdings in shares of Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after buying an additional 350 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC bought a new stake in shares of Iron Mountain in the first quarter valued at approximately $31,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Down 0.3%

Shares of NYSE:IRM opened at $120.83 on Wednesday. The firm has a market capitalization of $35.97 billion, a PE ratio of 86.31 and a beta of 1.20. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The business’s 50 day moving average is $124.28 and its 200-day moving average is $117.72.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.Iron Mountain’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. 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, sell-side analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.9%. Iron Mountain’s dividend payout ratio is currently 247.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IRM shares. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays upped their target price 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. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $135.17.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the 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 completion of the transaction, the executive vice president owned 101,507 shares of the company’s stock, valued at $12,454,908.90. This represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 sale, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. The trade was a 50.00% 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. Insiders have sold a total of 127,422 shares of company stock valued at $15,810,652 over the last ninety days. 1.70% of the stock is owned by insiders.

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.