Kentucky Retirement Systems Insurance Trust Fund Sells 766 Shares of Iron Mountain Incorporated (NYSE:IRM)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,636 shares of the financial services provider’s stock after selling 766 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Iron Mountain were worth $773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cohen & Steers Inc. raised its holdings in Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares during the period. Norges Bank acquired a new stake in Iron Mountain in the 4th quarter valued at $228,391,000. Charles Schwab Investment Management Inc. grew its position in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after purchasing an additional 81,741 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after purchasing an additional 772,988 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IRM. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.17.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $23,956,519.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,553 shares of company stock worth $8,759,378. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.7 %

NYSE:IRM traded up $1.60 during trading hours on Friday, hitting $98.50. 1,193,311 shares of the company traded hands, compared to its average volume of 1,642,411. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm’s 50-day simple moving average is $89.17 and its 200-day simple moving average is $79.87. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $101.38. The company has a market cap of $28.87 billion, a PE ratio of 149.24, a PEG ratio of 5.83 and a beta of 0.98.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

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.