KBC Group NV Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

KBC Group NV lifted its stake in 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 SEC. 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 owned about 0.10% of Iron Mountain worth $36,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Iron Mountain during the 1st quarter valued at about $38,000. Koshinski Asset Management Inc. increased its holdings in shares of Iron Mountain by 27.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 5,310 shares of the financial services provider’s stock worth $426,000 after buying an additional 1,135 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after buying an additional 7,486 shares during the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $217,000. Finally, Centersquare Investment Management LLC lifted its holdings in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,387 shares of company stock valued at $6,971,838 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $129.80.

Iron Mountain Stock Down 2.4 %

Shares of IRM opened at $113.16 on Friday. The company’s 50-day simple moving average is $119.46 and its 200-day simple moving average is $102.63. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24. The stock has a market capitalization of $33.21 billion, a PE ratio of 314.34, a P/E/G ratio of 6.95 and a beta of 0.99.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued 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 dividend payout ratio (DPR) is presently 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.