Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 14,600 Shares of Iron Mountain Incorporated (NYSE:IRM)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 37.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 53,084 shares of the financial services provider’s stock after acquiring an additional 14,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Iron Mountain were worth $5,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Key Financial Inc boosted its position 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 valued at $26,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC boosted its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position 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 valued at $54,000 after acquiring an additional 263 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 1.0 %

IRM stock opened at $92.33 on Wednesday. The business’s fifty day simple moving average is $102.75 and its two-hundred day simple moving average is $112.16. Iron Mountain Incorporated has a twelve month low of $73.45 and a twelve month high of $130.24. The firm has a market cap of $27.12 billion, a price-to-earnings ratio of 151.36, a PEG ratio of 5.15 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 analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Research analysts expect 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. Stockholders of record on Monday, March 17th will be given 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 dividend on an annualized basis and a dividend yield of 3.40%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IRM shares. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and an average target price of $127.67.

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.