Handelsbanken Fonder AB Purchases 48,170 Shares of Iron Mountain Incorporated (NYSE:IRM)

Handelsbanken Fonder AB raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 42.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 162,087 shares of the financial services provider’s stock after acquiring an additional 48,170 shares during the quarter. Handelsbanken Fonder AB’s holdings in Iron Mountain were worth $11,343,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in shares of Iron Mountain by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock worth $271,778,000 after purchasing an additional 29,683 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after purchasing an additional 1,546,592 shares during the period. Northern Trust Corp increased its holdings in shares of Iron Mountain by 1.2% during the 3rd quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock worth $232,677,000 after purchasing an additional 47,902 shares during the period. Invesco Ltd. increased its holdings in shares of Iron Mountain by 49.7% during the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after purchasing an additional 1,077,339 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after purchasing an additional 2,286,711 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $76.60 on Wednesday. Iron Mountain Incorporated has a 12-month low of $52.81 and a 12-month high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market capitalization of $22.45 billion, a PE ratio of 121.59, a price-to-earnings-growth ratio of 4.56 and a beta of 0.94. The firm has a 50-day moving average price of $76.89 and a 200 day moving average price of $69.04.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. Iron Mountain’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. Research analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.39%. Iron Mountain’s dividend payout ratio is 412.70%.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $20,175,156. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the sale, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $20,175,156. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock valued at $12,698,221 over the last three months. 2.20% of the stock is owned by insiders.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.