Swedbank AB Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Swedbank AB lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 228,052 shares of the financial services provider’s stock after selling 1,160 shares during the quarter. Swedbank AB’s holdings in Iron Mountain were worth $27,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Csenge Advisory Group increased its holdings in Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Iron Mountain by 2.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 117 shares during the last quarter. Perfromance Wealth Partners LLC boosted its stake in Iron Mountain by 2.4% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 118 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 120 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its stake in Iron Mountain by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays lifted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Iron Mountain Trading Up 1.2 %

NYSE:IRM opened at $123.42 on Thursday. The stock has a fifty day moving average price of $114.74 and a two-hundred day moving average price of $96.19. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 187.00, a PEG ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $124.12.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock valued at $3,511,505 in the last three months. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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.