Iron Mountain Incorporated (NYSE:IRM) Stock Position Increased by Korea Investment CORP

Korea Investment CORP boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 84.1% during the fourth quarter, according to its most recent disclosure 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of Iron Mountain by 47.4% during the 3rd quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider's stock valued at $3,489,000 after acquiring an additional 9,442 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Iron Mountain by 29.8% during the third quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider's stock worth $66,000 after purchasing an additional 128 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Iron Mountain in the 3rd quarter worth approximately $271,000. The Manufacturers Life Insurance Company lifted its position in shares of Iron Mountain by 2.0% during the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider's stock worth $24,912,000 after purchasing an additional 4,150 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Iron Mountain by 72.9% in the third quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider's stock valued at $1,204,000 after purchasing an additional 4,271 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

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Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the firm's 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 transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,848 shares of company stock valued at $23,418,519. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 5.8 %

Iron Mountain stock traded down $5.07 during mid-day trading on Thursday, reaching $83.03. The company's stock had a trading volume of 554,228 shares, compared to its average volume of 2,128,017. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The business has a 50 day moving average price of $93.59 and a 200-day moving average price of $107.75. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 136.11, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.78%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRM. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. JPMorgan Chase & Co. decreased 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, Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.67.

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.