KLP Kapitalforvaltning AS Has $13.40 Million Stock Holdings in Iron Mountain Incorporated $IRM

KLP Kapitalforvaltning AS lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 55.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,616 shares of the financial services provider’s stock after acquiring an additional 57,600 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.05% of Iron Mountain worth $13,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Quent Capital LLC acquired a new position in Iron Mountain during the third quarter worth $27,000. Johnson Financial Group Inc. acquired a new position in Iron Mountain during the third quarter worth $32,000. Franchise GP Ltd acquired a new position in Iron Mountain during the fourth quarter worth $38,000. Wealth Watch Advisors INC acquired a new position in Iron Mountain during the third quarter worth $44,000. Finally, Global Wealth Strategies & Associates acquired a new position in Iron Mountain during the fourth quarter worth $50,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

IRM stock opened at $116.24 on Friday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $121.00. The company has a 50-day moving average of $107.94 and a two-hundred day moving average of $97.86. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 242.16 and a beta of 1.13.

Iron Mountain Announces Dividend

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

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated 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 directly owned 125,507 shares in the company, valued at $12,890,823.97. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the sale, the chief executive officer owned 38,474 shares of the company’s stock, valued at $3,951,664.54. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 451,648 shares of company stock valued at $48,297,449 over the last three months. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Iron Mountain Company 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.