KLP Kapitalforvaltning AS Buys 57,600 Shares of Iron Mountain Incorporated $IRM

KLP Kapitalforvaltning AS lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 55.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,616 shares of the financial services provider’s stock after buying an additional 57,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Iron Mountain were worth $13,399,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Iron Mountain by 25.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 625,444 shares of the financial services provider’s stock valued at $52,006,000 after buying an additional 127,724 shares during the period. Foresight Capital Management Advisors Inc. lifted its stake in shares of Iron Mountain by 3.3% in the fourth quarter. Foresight Capital Management Advisors Inc. now owns 84,763 shares of the financial services provider’s stock valued at $7,031,000 after buying an additional 2,712 shares during the period. Franchise GP Ltd bought a new stake in shares of Iron Mountain in the fourth quarter valued at about $38,000. Evergreen Capital Management LLC lifted its stake in shares of Iron Mountain by 75.2% in the fourth quarter. Evergreen Capital Management LLC now owns 5,835 shares of the financial services provider’s stock valued at $488,000 after buying an additional 2,504 shares during the period. Finally, Vert Asset Management LLC lifted its stake in shares of Iron Mountain by 4.7% in the fourth quarter. Vert Asset Management LLC now owns 140,934 shares of the financial services provider’s stock valued at $11,690,000 after buying an additional 6,353 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on IRM. Wells Fargo & Company increased their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research note on Tuesday. Barclays raised their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Finally, Loop Capital set a $130.00 price target on shares of Iron Mountain in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Iron Mountain Stock Down 0.8%

Shares of IRM opened at $116.24 on Friday. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 242.16 and a beta of 1.13. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $121.00. The company has a 50-day moving average price of $107.94 and a two-hundred day moving average price of $97.86.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Monday, March 16th were paid a dividend of $0.864 per share. The ex-dividend date was Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $616,260.00. Following the completion of the sale, the executive vice president owned 125,507 shares of the company’s stock, valued at approximately $12,890,823.97. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the sale, the executive vice president directly owned 16,054 shares of the company’s stock, valued at approximately $1,679,569.48. The trade was a 78.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,648 shares of company stock worth $48,297,449 in the last three months. 1.70% of the stock is currently owned by company insiders.

Iron Mountain 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.