Korea Investment CORP Decreases Stake in Iron Mountain Incorporated $IRM

Korea Investment CORP lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 80.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,549 shares of the financial services provider’s stock after selling 221,921 shares during the quarter. Korea Investment CORP’s holdings in Iron Mountain were worth $5,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Intact Investment Management Inc. bought a new stake in Iron Mountain during the third quarter worth $3,588,000. Sei Investments Co. boosted its position in Iron Mountain by 4.2% in the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after purchasing an additional 35,301 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Iron Mountain by 11.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after purchasing an additional 6,937 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Iron Mountain by 17.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock valued at $10,598,000 after purchasing an additional 15,225 shares during the last quarter. Finally, AGF Management Ltd. increased its position in shares of Iron Mountain by 178.0% during the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after purchasing an additional 14,205 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRM. Loop Capital set a $130.00 price target on shares of Iron Mountain in a report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, Barclays lifted their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $116.60.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president owned 131,507 shares of the company’s stock, valued at $14,106,755.89. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 98,657 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $106.25, for a total transaction of $10,482,306.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 391,931 shares of company stock valued at $41,180,243 over the last quarter. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $107.24 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The business has a 50-day moving average of $98.78 and a 200 day moving average of $95.75. The firm has a market cap of $31.73 billion, a P/E ratio of 223.42 and a beta of 1.13.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. Iron Mountain’s dividend payout ratio (DPR) is presently 720.83%.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.