Korea Investment CORP Has $28.26 Million Holdings in Iron Mountain Incorporated $IRM

Korea Investment CORP trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,470 shares of the financial services provider’s stock after selling 59,600 shares during the period. Korea Investment CORP owned 0.09% of Iron Mountain worth $28,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Cooper Financial Group lifted its position in shares of Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 113 shares during the period. Fidelis Capital Partners LLC lifted its position in Iron Mountain by 2.3% during the second quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 128 shares during the period. NorthRock Partners LLC grew its stake in Iron Mountain by 2.6% during the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock worth $440,000 after buying an additional 131 shares in the last quarter. PFG Investments LLC increased its holdings in Iron Mountain by 0.6% in the 2nd quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 133 shares during the period. Finally, Daymark Wealth Partners LLC raised its position in shares of Iron Mountain by 5.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 2,767 shares of the financial services provider’s stock valued at $284,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. Barclays increased their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $114.80.

Iron Mountain Stock Performance

IRM stock opened at $86.37 on Friday. The company has a market capitalization of $25.53 billion, a P/E ratio of 616.97 and a beta of 1.06. The company has a fifty day moving average price of $99.41 and a 200-day moving average price of $98.11. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $124.98.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $1.13 EPS. Iron Mountain’s revenue for the quarter was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is currently 650.94%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the completion of the transaction, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. The trade was a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 226,681 shares of company stock worth $22,265,632. Insiders own 1.90% of the company’s stock.

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.