KBC Group NV Has $5.79 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

KBC Group NV lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 83.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,353 shares of the financial services provider's stock after selling 334,908 shares during the quarter. KBC Group NV's holdings in Iron Mountain were worth $5,794,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IRM. Proficio Capital Partners LLC bought a new stake in Iron Mountain in the 4th quarter valued at about $102,000. Fisher Asset Management LLC bought a new position in shares of Iron Mountain during the fourth quarter worth approximately $587,000. Smartleaf Asset Management LLC raised its position in shares of Iron Mountain by 8.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,793 shares of the financial services provider's stock valued at $186,000 after buying an additional 147 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Iron Mountain by 281.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 930 shares of the financial services provider's stock valued at $98,000 after buying an additional 686 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Iron Mountain by 153.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,118 shares of the financial services provider's stock worth $748,000 after buying an additional 4,310 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares of the company's stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRM has been the subject of several analyst reports. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Finally, Barclays boosted their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Price Performance

IRM traded up $1.92 during trading on Friday, hitting $101.53. 914,630 shares of the stock traded hands, compared to its average volume of 1,798,234. The business has a 50 day moving average price of $99.01 and a 200 day moving average price of $96.07. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. Iron Mountain's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Iron Mountain 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.