Kentucky Trust Co Invests $2.26 Million in Iron Mountain Incorporated (NYSE:IRM)

Kentucky Trust Co acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,490 shares of the financial services provider's stock, valued at approximately $2,259,000. Iron Mountain accounts for about 1.3% of Kentucky Trust Co's holdings, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after purchasing an additional 152 shares during the period. Finally, Oakworth Capital Inc. purchased a new stake in Iron Mountain during the fourth quarter worth about $55,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by company insiders.

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Iron Mountain Stock Up 0.1 %

IRM traded up $0.09 on Friday, reaching $95.34. The company's stock had a trading volume of 2,521,271 shares, compared to its average volume of 1,704,216. The stock has a 50 day moving average of $105.45 and a two-hundred day moving average of $112.70. The company has a market capitalization of $27.98 billion, a price-to-earnings ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a fifty-two week low of $67.09 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 1.77% and a negative return on equity of 44,660.04%. During the same period last year, the company earned $0.52 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.18 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 Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio is presently 794.47%.

Analysts Set New Price Targets

A number of analysts have issued reports on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Iron Mountain from a "hold" rating to a "sell" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Finally, Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $129.17.

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.