KBC Group NV Lowers Position in Iron Mountain Incorporated $IRM

Key Points

• KBC Group NV reduced its stake in Iron Mountain by 47.2% in Q4, selling 137,969 shares and leaving it with 154,509 shares worth about $12.82 million (≈0.05% of the company).
• Company insiders have been selling heavily — CEO William L. Meaney and EVP Mithu Bhargava executed large sales and insiders disposed of 451,648 shares (~$48.3M) over the past 90 days.
• Iron Mountain pays a quarterly dividend of $0.864 (annualized $3.46, yield ~2.9%) but has an unusually high dividend payout ratio of 720.83%, while analysts hold a consensus “Hold” rating with a $122 price target.

KBC Group NV cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 154,509 shares of the financial services provider's stock after selling 137,969 shares during the quarter. KBC Group NV owned about 0.05% of Iron Mountain worth $12,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Iron Mountain during the 3rd quarter worth $27,000. Johnson Financial Group Inc. acquired a new position in Iron Mountain during the 3rd quarter worth about $32,000. Wealth Watch Advisors INC acquired a new position in Iron Mountain during the 3rd quarter worth about $44,000. Global Wealth Strategies & Associates acquired a new position in Iron Mountain during the 4th quarter worth about $50,000. Finally, Washington Trust Advisors Inc. acquired a new position in Iron Mountain during the 3rd quarter worth about $54,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $3,951,664.54. Following the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at $3,951,664.54. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total value of $6,248,429.50. Following the completion of the sale, the executive vice president directly owned 16,054 shares in the company, valued at $1,679,569.48. This represents a 78.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 451,648 shares of company stock worth $48,297,449 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRM. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Zacks Research lowered Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Loop Capital set a $130.00 target price on Iron Mountain in a research note on Wednesday, March 4th. Finally, Barclays increased their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Hold" and a consensus price target of $122.00.

Iron Mountain Price Performance

IRM stock opened at $117.96 on Friday. The firm has a market capitalization of $35.09 billion, a P/E ratio of 245.75 and a beta of 1.13. The business's 50-day moving average is $106.55 and its two-hundred day moving average is $97.45. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $119.15.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Monday, March 16th were given a $0.864 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 2.9%. Iron Mountain's dividend payout ratio (DPR) is currently 720.83%.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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