Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 600 Shares of Iron Mountain Incorporated $IRM

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,784 shares of the financial services provider’s stock after acquiring an additional 600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Iron Mountain were worth $5,209,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IRM. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter valued at approximately $30,000. Amalgamated Bank boosted its position in Iron Mountain by 2.7% during the 1st quarter. Amalgamated Bank now owns 60,085 shares of the financial services provider’s stock valued at $5,170,000 after acquiring an additional 1,571 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Iron Mountain by 150.4% during the 1st quarter. Vontobel Holding Ltd. now owns 11,687 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 7,019 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Iron Mountain by 60.4% during the 1st quarter. Teacher Retirement System of Texas now owns 57,824 shares of the financial services provider’s stock valued at $4,975,000 after acquiring an additional 21,775 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in Iron Mountain by 7.9% during the 1st quarter. Mutual Advisors LLC now owns 130,443 shares of the financial services provider’s stock valued at $11,442,000 after acquiring an additional 9,598 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IRM. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 144,250 shares of company stock worth $13,811,388 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Down 0.1%

Shares of IRM opened at $101.25 on Friday. The stock has a market cap of $29.90 billion, a P/E ratio of 723.26 and a beta of 1.06. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $127.29. The business’s 50 day moving average price is $99.94 and its 200-day moving average price is $97.53.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.1%. Iron Mountain’s dividend payout ratio is 2,242.86%.

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.