Sumitomo Mitsui Trust Group Inc. Sells 48,856 Shares of Iron Mountain Incorporated $IRM

Sumitomo Mitsui Trust Group Inc. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 5.4% in the third quarter, HoldingsChannel.com reports. The fund owned 847,704 shares of the financial services provider’s stock after selling 48,856 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Iron Mountain were worth $94,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $4,240,342,000. Principal Financial Group Inc. grew its holdings in Iron Mountain by 8.5% during the first quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after purchasing an additional 358,497 shares during the period. Dimensional Fund Advisors LP grew its holdings in Iron Mountain by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock valued at $464,931,000 after purchasing an additional 122,927 shares during the period. Legal & General Group Plc acquired a new position in Iron Mountain during the second quarter valued at approximately $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Iron Mountain by 29,674.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock valued at $403,379,000 after purchasing an additional 3,182,834 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Activity

In related 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 sale, the executive vice president directly 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. The sale was disclosed in a legal filing 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 the business’s 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 in the company, valued at $4,681,131.58. This represents 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 sold 137,422 shares of company stock worth $15,881,099 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IRM shares. BNP Paribas Exane increased their target price on shares of Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn initiated coverage on shares of Iron Mountain in a report on Monday, September 21st. They issued a “buy” rating and a $132.00 price target for the company. Truist Financial boosted their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, The Goldman Sachs Group raised their price objective on Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.89.

Iron Mountain Price Performance

NYSE:IRM opened at $115.10 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The stock has a market capitalization of $34.27 billion, a PE ratio of 82.21 and a beta of 1.17. The business’s 50-day simple moving average is $114.53 and its 200-day simple moving average is $115.01.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm earned $1.24 EPS. Iron Mountain’s quarterly revenue was up 18.5% compared to the same quarter last year. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were issued a $0.8640 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, September 15th. Iron Mountain’s dividend payout ratio is 246.43%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.