Traders Buy Large Volume of Put Options on Iron Mountain (NYSE:IRM)

Iron Mountain Incorporated (NYSE:IRM) saw some unusual options trading on Thursday. Investors purchased 2,667 put options on the company. This is an increase of 22% compared to the typical volume of 2,191 put options.

Iron Mountain Trading Down 1.0%

IRM traded down $1.13 on Thursday, hitting $109.82. The company had a trading volume of 446,341 shares, compared to its average volume of 1,738,245. The company’s fifty day moving average price is $119.37 and its 200 day moving average price is $119.30. Iron Mountain has a 1 year low of $77.77 and a 1 year high of $134.68. The firm has a market cap of $32.69 billion, a P/E ratio of 78.51 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $1.24 earnings per share. Iron Mountain’s 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, analysts predict that Iron Mountain will post 5.42 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a $0.8640 dividend. This represents a $3.46 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 247.14%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 5,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total transaction of $578,000.00. Following the completion of the transaction, the executive vice president directly owned 75,634 shares of the company’s stock, valued at $8,743,290.40. The trade was a 6.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief executive officer owned 38,474 shares of the company’s stock, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 93,948 shares of company stock valued at $11,078,046. 1.70% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Iron Mountain by 9.7% in the 2nd quarter. QRG Capital Management Inc. now owns 71,225 shares of the financial services provider’s stock valued at $8,996,000 after buying an additional 6,273 shares during the period. Andra AP fonden boosted its holdings in Iron Mountain by 159.7% during the 2nd quarter. Andra AP fonden now owns 81,952 shares of the financial services provider’s stock valued at $10,351,000 after acquiring an additional 50,400 shares during the period. Wellington Altus USA Inc. purchased a new position in Iron Mountain during the 2nd quarter valued at about $27,000. Sequoia Financial Advisors LLC grew its position in Iron Mountain by 18.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,408 shares of the financial services provider’s stock valued at $1,567,000 after acquiring an additional 1,944 shares in the last quarter. Finally, Community Bank of Raymore grew its position in Iron Mountain by 9.0% in the 2nd quarter. Community Bank of Raymore now owns 17,301 shares of the financial services provider’s stock valued at $2,185,000 after acquiring an additional 1,430 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IRM. Truist Financial lifted their price objective 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. 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. Wells Fargo & Company increased their target price on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays increased their target price on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. Finally, Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.83.

Iron Mountain Company 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.