Iron Mountain Incorporated (NYSE:IRM) Stake Raised by Korea Investment CORP

Korea Investment CORP raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 84.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,842 shares of the financial services provider’s stock after acquiring an additional 90,851 shares during the quarter. Korea Investment CORP owned 0.07% of Iron Mountain worth $20,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in IRM. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain during the 4th quarter worth $26,000. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Dunhill Financial LLC raised its position in shares of 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 purchasing an additional 152 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IRM has been the topic of a number of analyst reports. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Trading Down 0.5 %

NYSE IRM opened at $85.07 on Friday. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The firm’s fifty day simple moving average is $94.97 and its 200-day simple moving average is $108.35. The company has a market capitalization of $24.99 billion, a PE ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the business earned $0.52 earnings per share. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.69%. Iron Mountain’s dividend payout ratio is 514.75%.

About Iron Mountain

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.