Swedbank AB Sells 13,213 Shares of Iron Mountain Incorporated (NYSE:IRM)

Swedbank AB decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 229,212 shares of the financial services provider’s stock after selling 13,213 shares during the quarter. Swedbank AB’s holdings in Iron Mountain were worth $20,542,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain in the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain in the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the first quarter worth about $38,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $36,000. Finally, Heritage Wealth Advisors bought a new position in shares of Iron Mountain in the fourth quarter worth about $38,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the transaction, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the transaction, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders sold 96,372 shares of company stock worth $8,516,435 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM traded down $0.28 during trading on Friday, hitting $108.30. 1,891,285 shares of the company’s stock were exchanged, compared to its average volume of 1,661,263. The company has a market cap of $31.75 billion, a price-to-earnings ratio of 164.09, a PEG ratio of 6.49 and a beta of 0.98. The business’s 50-day simple moving average is $96.67 and its 200 day simple moving average is $83.78. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.86. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $112.79.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion for 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 business’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, equities analysts predict that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IRM shares. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.29.

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.