Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 402,261 shares of the financial services provider’s stock after acquiring an additional 96,869 shares during the period. KBC Group NV’s holdings in Iron Mountain were worth $42,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain in the third quarter valued at about $36,000. Dunhill Financial LLC boosted its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. Finally, Quarry LP increased its position in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IRM shares. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $131.00.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 6.5 %

Shares of NYSE IRM opened at $103.84 on Tuesday. The stock has a market cap of $30.47 billion, a P/E ratio of 288.44, a PEG ratio of 6.05 and a beta of 1.02. The business’s fifty day simple moving average is $110.65 and its 200-day simple moving average is $112.56. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.