Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by KBC Group NV

KBC Group NV raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 368.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 305,392 shares of the financial services provider's stock after purchasing an additional 240,195 shares during the period. KBC Group NV owned 0.10% of Iron Mountain worth $36,289,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider's stock valued at $1,351,000 after buying an additional 92 shares in the last quarter. Schmidt P J Investment Management Inc. increased its holdings in shares of Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider's stock worth $340,000 after purchasing an additional 100 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider's stock worth $511,000 after purchasing an additional 107 shares during the period. Csenge Advisory Group increased its holdings in shares of Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider's stock worth $853,000 after purchasing an additional 114 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Iron Mountain by 2.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider's stock worth $380,000 after purchasing an additional 117 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of IRM stock traded up $1.75 on Friday, reaching $114.87. 1,485,831 shares of the company were exchanged, compared to its average volume of 1,605,212. The business has a 50-day moving average price of $119.46 and a 200 day moving average price of $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. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 314.34, a P/E/G ratio of 6.95 and a beta of 0.99. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. Iron Mountain's dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company's stock, valued at approximately $993,127.75. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,387 shares of company stock worth $6,971,838 in the last quarter. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $129.80.

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.