Handelsbanken Fonder AB Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Handelsbanken Fonder AB raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,087 shares of the financial services provider’s stock after buying an additional 48,170 shares during the period. Handelsbanken Fonder AB owned about 0.06% of Iron Mountain worth $11,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IRM. Manchester Capital Management LLC raised its stake in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 419 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Iron Mountain in the 4th quarter valued at about $26,000. Hanson & Doremus Investment Management acquired a new position in Iron Mountain in the 3rd quarter valued at about $28,000. Finally, CVA Family Office LLC acquired a new position in Iron Mountain in the 4th quarter valued at about $32,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.0 %

IRM stock opened at $76.60 on Wednesday. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 121.59, a PEG ratio of 4.56 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The business has a fifty day simple moving average of $76.89 and a 200-day simple moving average of $69.04. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.39%. Iron Mountain’s dividend payout ratio is currently 412.70%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company upped their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Barclays increased their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. In the last three months, insiders sold 164,124 shares of company stock worth $12,698,221. Corporate insiders own 2.20% of the company’s stock.

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.