Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Swedbank AB

Swedbank AB reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,052 shares of the financial services provider’s stock after selling 1,160 shares during the period. Swedbank AB owned about 0.08% of Iron Mountain worth $27,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. One Charles Private Wealth Services LLC boosted its stake in shares of Iron Mountain by 1.9% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 11,641 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 222 shares in the last quarter. Cerity Partners LLC raised its holdings in Iron Mountain by 47.4% in the 3rd quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider’s stock worth $3,489,000 after purchasing an additional 9,442 shares during the period. Nwam LLC purchased a new position in Iron Mountain during the third quarter worth approximately $289,000. Citigroup Inc. grew its holdings in Iron Mountain by 8.4% in the third quarter. Citigroup Inc. now owns 268,389 shares of the financial services provider’s stock valued at $31,893,000 after purchasing an additional 20,905 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after purchasing an additional 141,675 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE:IRM opened at $120.84 on Tuesday. The company has a market cap of $35.46 billion, a P/E ratio of 335.68, a P/E/G ratio of 7.16 and a beta of 0.99. Iron Mountain Incorporated has a twelve month low of $62.58 and a twelve month high of $130.24. The company’s 50-day moving average price is $119.91 and its 200-day moving average price is $104.96. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 in the last ninety days. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. boosted 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $129.40.

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.