Independence Bank of Kentucky Takes $63,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Independence Bank of Kentucky bought a new stake in Iron Mountain Incorporated (NYSE:IRMFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 905 shares of the financial services provider’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Waverly Advisors LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at $1,993,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at $3,270,000. Allspring Global Investments Holdings LLC raised its stake in shares of Iron Mountain by 99.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock valued at $5,051,000 after acquiring an additional 42,407 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Iron Mountain by 6.1% in the third quarter. Public Sector Pension Investment Board now owns 59,274 shares of the financial services provider’s stock valued at $3,524,000 after acquiring an additional 3,405 shares during the period. Finally, Cohen & Steers Inc. raised its stake in shares of Iron Mountain by 163.9% in the second quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock valued at $438,926,000 after acquiring an additional 4,798,010 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company upped their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Stifel Nicolaus upped their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Barclays upped their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Get Our Latest Research Report on Iron Mountain

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $66.16, for a total transaction of $132,320.00. Following the completion of the sale, the executive vice president now directly owns 50,026 shares of the company’s stock, valued at $3,309,720.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $67.47, for a total transaction of $1,071,086.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $19,947,505.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $66.16, for a total transaction of $132,320.00. Following the sale, the executive vice president now directly owns 50,026 shares of the company’s stock, valued at $3,309,720.16. The disclosure for this sale can be found here. Insiders have sold a total of 164,124 shares of company stock worth $12,527,372 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Stock Up 0.6 %

Shares of Iron Mountain stock opened at $79.22 on Thursday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. Iron Mountain Incorporated has a 1 year low of $51.09 and a 1 year high of $82.19. The firm’s 50-day moving average is $74.61 and its two-hundred day moving average is $67.38. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 125.75, a PEG ratio of 4.73 and a beta of 0.94.

Iron Mountain (NYSE:IRMGet Free Report) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Iron Mountain Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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