Principal Financial Group Inc. Purchases 358,497 Shares of Iron Mountain Incorporated $IRM

Principal Financial Group Inc. raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,566,093 shares of the financial services provider’s stock after purchasing an additional 358,497 shares during the quarter. Principal Financial Group Inc.’s holdings in Iron Mountain were worth $466,382,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. boosted its position in shares of Iron Mountain by 20.0% during 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. State Street Corp increased its position in Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after purchasing an additional 322,144 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after buying an additional 102,073 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after acquiring an additional 776,933 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Iron Mountain in the 4th quarter valued at about $368,890,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IRM shares. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Wells Fargo & Company lifted their target price on Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings downgraded shares of Iron Mountain from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Iron Mountain Price Performance

Shares of IRM opened at $122.35 on Tuesday. The firm has a market capitalization of $36.40 billion, a price-to-earnings ratio of 134.45 and a beta of 1.19. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The company has a 50-day moving average of $126.01 and a 200 day moving average of $110.00.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were given a dividend of $0.864 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. Iron Mountain’s dividend payout ratio is presently 380.22%.

Insider Activity

In related news, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total value of $94,208.65. Following the completion of the sale, the director directly owned 1,135 shares in the company, valued at $141,250.75. The trade was a 40.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 137,260 shares of company stock valued at $17,361,672. Company insiders own 1.70% of the company’s stock.

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.