Iron Mountain Incorporated $IRM Holdings Trimmed by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 70,786 shares of the financial services provider’s stock after selling 6,368 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Iron Mountain were worth $7,854,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Iron Mountain by 74.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,186 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 1,364 shares during the last quarter. Krilogy Financial LLC increased its stake in shares of Iron Mountain by 28.4% in the third quarter. Krilogy Financial LLC now owns 4,734 shares of the financial services provider’s stock worth $545,000 after buying an additional 1,048 shares during the period. Trinity Wealth Management LLC purchased a new position in shares of Iron Mountain in the third quarter worth $279,000. Mechanics Bank Trust Department raised its holdings in Iron Mountain by 3.8% during the 3rd quarter. Mechanics Bank Trust Department now owns 9,389 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 347 shares during the last quarter. Finally, Courier Capital LLC boosted its position in Iron Mountain by 90.8% during the 3rd quarter. Courier Capital LLC now owns 27,104 shares of the financial services provider’s stock valued at $3,007,000 after buying an additional 12,900 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Barclays upped their price objective on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Wells Fargo & Company increased their target price 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. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Truist Financial raised their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.83.

Insiders Place Their Bets

In related news, CEO William Meaney sold 38,474 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $110.45, for a total value of $4,249,453.30. Following the sale, the chief executive officer owned 38,474 shares in the company, valued at $4,249,453.30. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg McIntosh sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $110.72, for a total value of $553,600.00. Following the transaction, the executive vice president owned 70,634 shares of the company’s stock, valued at $7,820,596.48. The trade was a 6.61% 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. Over the last quarter, insiders have sold 137,422 shares of company stock worth $15,881,099. 1.70% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

IRM stock opened at $114.64 on Wednesday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The company has a market cap of $34.13 billion, a P/E ratio of 81.89 and a beta of 1.17. The firm has a 50-day moving average of $117.45 and a 200 day moving average of $119.93.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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 business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business’s 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. On average, equities research analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were issued a $0.8640 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 15th. Iron Mountain’s dividend payout ratio is 247.14%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and data center services company. It helps organizations protect, manage and access physical and digital information, including business records, documents, backup media and other critical assets.

The company provides records storage and retrieval, secure shredding and destruction, information governance, digitization, document management and data migration services. Iron Mountain also operates data centers and offers colocation, hybrid cloud and related infrastructure services.