Lansforsakringar Fondforvaltning AB publ Takes $10.22 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 97,203 shares of the financial services provider's stock, valued at approximately $10,217,000.

Several other institutional investors have also made changes to their positions in IRM. Exchange Traded Concepts LLC boosted its holdings in shares of Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after purchasing an additional 5,511 shares during the period. Blue Trust Inc. boosted its holdings in shares of Iron Mountain by 32.2% during the fourth quarter. Blue Trust Inc. now owns 2,826 shares of the financial services provider's stock worth $297,000 after purchasing an additional 688 shares during the period. BSW Wealth Partners boosted its holdings in shares of Iron Mountain by 22.5% during the fourth quarter. BSW Wealth Partners now owns 2,723 shares of the financial services provider's stock worth $286,000 after purchasing an additional 501 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth approximately $1,051,000. Finally, Swedbank AB boosted its holdings in shares of Iron Mountain by 26.7% during the fourth quarter. Swedbank AB now owns 288,938 shares of the financial services provider's stock worth $30,370,000 after purchasing an additional 60,886 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, 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 transaction of $807,383.72. Following the completion of the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 146,648 shares of company stock worth $13,401,959 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Barclays boosted their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock 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 for the company in a research report on Tuesday, February 18th. Finally, Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Price Performance

NYSE:IRM traded up $0.72 during midday trading on Monday, reaching $99.43. The stock had a trading volume of 1,477,919 shares, compared to its average volume of 1,864,196. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm's fifty day simple moving average is $90.13 and its 200-day simple moving average is $98.43. The stock has a market capitalization of $29.34 billion, a P/E ratio of 163.00, a PEG ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The business 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 dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is currently 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.