Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in Iron Mountain Incorporated (NYSE:IRM)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,466 shares of the financial services provider's stock, valued at approximately $728,000.

Several other hedge funds have also bought and sold shares of IRM. Wealthfront Advisers LLC boosted its stake in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Norges Bank purchased a new position in Iron Mountain in the fourth quarter worth about $348,249,000. Northern Trust Corp lifted its stake in shares of Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after buying an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after buying an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Iron Mountain by 439.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after buying an additional 978,251 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director now directly owns 36,515 shares of the company's stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock valued at $20,319,408 over the last three months. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $2.48 on Wednesday, hitting $102.77. 1,544,263 shares of the company's stock were exchanged, compared to its average volume of 1,773,067. The company has a 50-day simple moving average of $96.65 and a 200-day simple moving average of $96.60. The stock has a market capitalization of $30.32 billion, a PE ratio of 250.66 and a beta of 1.09. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

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

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.06%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IRM. Barclays boosted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and an average target price of $121.71.

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.