KBC Group NV Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

KBC Group NV increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 368.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,392 shares of the financial services provider’s stock after purchasing an additional 240,195 shares during the quarter. KBC Group NV’s holdings in Iron Mountain were worth $36,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter valued at $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the second quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the second quarter valued at $36,000. Finally, Headlands Technologies LLC purchased a new position in shares of Iron Mountain during the first quarter worth about $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 2.4 %

NYSE:IRM opened at $113.16 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock’s 50 day simple moving average is $119.46 and its 200-day simple moving average is $102.63. Iron Mountain Incorporated has a 12-month low of $61.59 and a 12-month high of $130.24. The firm has a market cap of $33.21 billion, a P/E ratio of 314.34, a PEG ratio of 6.95 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.53%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Transactions at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,387 shares of company stock worth $6,971,838. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research reports. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays increased their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and an average price target of $129.80.

Iron Mountain 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.