Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,889 shares of the financial services provider's stock after selling 39,081 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Iron Mountain worth $14,703,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IRM. Strategic Financial Concepts LLC increased its holdings in shares of Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 240,261 shares during the period. Savant Capital LLC grew its position in Iron Mountain by 3.5% in the 4th quarter. Savant Capital LLC now owns 11,730 shares of the financial services provider's stock valued at $1,233,000 after buying an additional 394 shares during the last quarter. Summit Trail Advisors LLC grew its position in Iron Mountain by 19.4% in the 4th quarter. Summit Trail Advisors LLC now owns 5,704 shares of the financial services provider's stock valued at $604,000 after buying an additional 927 shares during the last quarter. Kentucky Trust Co purchased a new position in Iron Mountain in the 4th quarter valued at $2,259,000. Finally, Van ECK Associates Corp grew its position in Iron Mountain by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider's stock valued at $5,841,000 after buying an additional 5,150 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director now directly owns 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is owned by insiders.

Iron Mountain Stock Down 1.0%

Shares of Iron Mountain stock traded down $1.01 on Friday, hitting $101.50. The company's stock had a trading volume of 979,247 shares, compared to its average volume of 1,849,527. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a fifty day moving average price of $93.42 and a 200-day moving average price of $97.63. The company has a market capitalization of $29.95 billion, a P/E ratio of 166.39, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results 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. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IRM. Barclays lifted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus price target of $121.71.

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.