Iron Mountain Incorporated (NYSE:IRM) Stake Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 18.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 170,889 shares of the financial services provider’s stock after selling 39,081 shares during the period. Handelsbanken Fonder AB’s holdings in Iron Mountain were worth $14,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC grew its stake in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Northern Trust Corp grew its stake in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after buying an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Iron Mountain by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider’s stock worth $443,476,000 after buying an additional 15,097 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after buying an additional 92,475 shares during the last quarter. Finally, Norges Bank bought a new position in Iron Mountain during the 4th quarter worth $348,249,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Walter C. Rakowich sold 900 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director now owns 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total value of $807,383.72. Following the completion of the sale, the executive vice president now owns 70,114 shares of the company’s stock, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock worth $20,319,408 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $121.71.

Iron Mountain Stock Performance

NYSE:IRM opened at $100.90 on Thursday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market cap of $29.77 billion, a price-to-earnings ratio of 165.41, a PEG ratio of 5.15 and a beta of 1.09. The business has a fifty day moving average of $92.42 and a 200-day moving average of $97.91.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.11%. Iron Mountain’s dividend payout ratio (DPR) is 765.85%.

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.