Korea Investment CORP Acquires 58,626 Shares of Iron Mountain Incorporated (NYSE:IRM)

Korea Investment CORP grew its position in Iron Mountain Incorporated (NYSE:IRM) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,507 shares of the financial services provider’s stock after purchasing an additional 58,626 shares during the period. Korea Investment CORP owned about 0.09% of Iron Mountain worth $14,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Moneta Group Investment Advisors LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $224,698,000. Norges Bank purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $97,752,000. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Iron Mountain by 206.0% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,237,999 shares of the financial services provider’s stock valued at $61,714,000 after purchasing an additional 833,378 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Iron Mountain by 97.1% in the first quarter. Royal Bank of Canada now owns 1,069,486 shares of the financial services provider’s stock valued at $59,260,000 after purchasing an additional 526,994 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Iron Mountain by 522.8% in the first quarter. National Pension Service now owns 518,482 shares of the financial services provider’s stock valued at $28,729,000 after purchasing an additional 435,237 shares during the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $63.61 on Friday. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 48.93, a PEG ratio of 4.12 and a beta of 0.93. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. The firm has a 50-day moving average price of $60.07 and a 200-day moving average price of $55.92. Iron Mountain Incorporated has a twelve month low of $43.33 and a twelve month high of $64.20.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.65 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.09%. Iron Mountain’s dividend payout ratio (DPR) is presently 190.00%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 12,000 shares of Iron Mountain stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $61.53, for a total value of $738,360.00. Following the completion of the transaction, the director now owns 25,991 shares in the company, valued at $1,599,226.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $112,460.00. Following the completion of the transaction, the executive vice president now directly owns 62,026 shares in the company, valued at $3,487,721.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $61.53, for a total transaction of $738,360.00. Following the completion of the transaction, the director now owns 25,991 shares of the company’s stock, valued at $1,599,226.23. The disclosure for this sale can be found here. Insiders sold 134,208 shares of company stock worth $7,670,320 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $68.00 in a report on Monday, August 21st. Barclays raised their price objective on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com assumed coverage on shares of Iron Mountain in a report on Thursday, August 17th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.75.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.