Handelsbanken Fonder AB Purchases 2,425 Shares of Iron Mountain Incorporated (NYSE:IRM)

Handelsbanken Fonder AB lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 209,970 shares of the financial services provider’s stock after purchasing an additional 2,425 shares during the quarter. Handelsbanken Fonder AB owned 0.07% of Iron Mountain worth $22,070,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IRM. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the 3rd quarter worth about $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter worth about $36,000. Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Iron Mountain by 104.8% during the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 263 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.9 %

Iron Mountain stock opened at $91.77 on Friday. Iron Mountain Incorporated has a 1 year low of $70.00 and a 1 year high of $130.24. The company has a market cap of $26.96 billion, a PE ratio of 150.44, a PEG ratio of 5.11 and a beta of 1.01. The company’s 50-day moving average is $103.50 and its two-hundred day moving average is $112.30.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the business earned $0.52 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analysts Set New Price Targets

A number of equities research analysts have commented on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Insider Activity at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock worth $16,805,912 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Company 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.