Kieckhefer Group LLC Acquires New Shares in Iron Mountain Incorporated (NYSE:IRM)

Kieckhefer Group LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 800 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other hedge funds have also recently modified their holdings of the business. LPL Financial LLC boosted its stake in Iron Mountain by 9.5% in the second quarter. LPL Financial LLC now owns 501,499 shares of the financial services provider’s stock valued at $44,944,000 after acquiring an additional 43,498 shares in the last quarter. American Century Companies Inc. increased its position in Iron Mountain by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 828,630 shares of the financial services provider’s stock valued at $74,262,000 after buying an additional 44,574 shares in the last quarter. Main Street Financial Solutions LLC acquired a new stake in Iron Mountain in the second quarter worth about $208,000. Meeder Advisory Services Inc. increased its stake in Iron Mountain by 22.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,295 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 615 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Iron Mountain by 1.2% during the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock worth $4,530,000 after buying an additional 614 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.1 %

IRM traded down $1.15 during trading hours on Monday, hitting $100.01. 287,352 shares of the company’s stock were exchanged, compared to its average volume of 1,883,829. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The firm has a market cap of $29.35 billion, a P/E ratio of 277.81, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02. The firm has a 50 day moving average of $112.71 and a 200 day moving average of $111.31.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.86%. Iron Mountain’s payout ratio is 794.44%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IRM. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays lowered their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $131.00.

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.