Handelsbanken Fonder AB Has $22.07 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Handelsbanken Fonder AB boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 209,970 shares of the financial services provider’s stock after buying an additional 2,425 shares during the period. Handelsbanken Fonder AB’s holdings in Iron Mountain were worth $22,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. WealthBridge Capital Management LLC raised its holdings in Iron Mountain by 2.5% during the 4th quarter. WealthBridge Capital Management LLC now owns 13,181 shares of the financial services provider’s stock worth $1,385,000 after buying an additional 322 shares during the period. Financial Sense Advisors Inc. bought a new position in shares of Iron Mountain during the 4th quarter worth approximately $233,000. Private Advisor Group LLC grew its stake in shares of Iron Mountain by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 95,080 shares of the financial services provider’s stock worth $9,994,000 after acquiring an additional 2,012 shares in the last quarter. Key Financial Inc grew its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of 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 in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock valued at $16,805,912 in the last quarter. 2.10% of the stock is currently owned by insiders.

Iron Mountain Trading Down 1.9 %

NYSE:IRM 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 firm has a fifty day simple moving average of $103.50 and a 200 day simple moving average of $112.30. The stock has a market capitalization of $26.96 billion, a PE ratio of 150.44, a P/E/G ratio of 5.11 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. 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. This represents a $3.14 annualized dividend and a yield of 3.42%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analysts Set New Price Targets

IRM has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.