Korea Investment CORP Sells 221,921 Shares of Iron Mountain Incorporated $IRM

Korea Investment CORP decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 80.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,549 shares of the financial services provider’s stock after selling 221,921 shares during the quarter. Korea Investment CORP’s holdings in Iron Mountain were worth $5,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IRM. Quent Capital LLC acquired a new stake in Iron Mountain in the third quarter worth $27,000. Washington Trust Advisors Inc. bought a new stake in Iron Mountain in the third quarter valued at $54,000. Caitlin John LLC acquired a new position in shares of Iron Mountain during the third quarter valued at about $61,000. City Holding Co. bought a new position in shares of Iron Mountain during the 3rd quarter worth about $68,000. Finally, First Horizon Corp bought a new position in shares of Iron Mountain during the 3rd quarter worth about $68,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $107.24 on Friday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $115.24. The company has a market cap of $31.73 billion, a PE ratio of 223.42 and a beta of 1.13. The firm has a 50-day moving average of $98.78 and a 200-day moving average of $95.75.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Insider Activity

In related news, CEO William L. Meaney sold 137,133 shares of Iron Mountain stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the transaction, the chief executive officer owned 295,975 shares of the company’s stock, valued at $32,376,705.25. The trade was a 31.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer Allerton sold 7,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the sale, the director owned 11,541 shares of the company’s stock, valued at $1,256,584.08. This trade represents a 37.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 391,931 shares of company stock worth $41,180,243 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on IRM shares. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Barclays boosted their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.60.

About Iron Mountain

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.