Swedbank AB Grows Holdings in Iron Mountain Incorporated $IRM

Key Points

• Swedbank AB increased its holdings in Iron Mountain Incorporated by 4.9% during the first quarter, now owning approximately 303,030 shares valued at $26.07 million.
• The company recently reported an earnings per share (EPS) of $1.24, exceeding analysts' expectations of $1.19, with a noted revenue increase of 11.6% year-over-year.
• Iron Mountain announced a quarterly dividend of $0.785 per share, which results in an annualized dividend yield of 3.2%.

Swedbank AB increased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 303,030 shares of the financial services provider's stock after purchasing an additional 14,092 shares during the period. Swedbank AB owned approximately 0.10% of Iron Mountain worth $26,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its holdings in shares of Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 108 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 118 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock valued at $572,000 after acquiring an additional 123 shares during the last quarter. NorthRock Partners LLC boosted its holdings in shares of Iron Mountain by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock valued at $440,000 after acquiring an additional 131 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in shares of Iron Mountain by 2.6% in the 1st quarter. Financial Management Professionals Inc. now owns 5,574 shares of the financial services provider's stock valued at $480,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. This represents a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,709 shares of company stock worth $22,555,809 over the last three months. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IRM shares. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Barclays increased their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and an average price target of $120.17.

Iron Mountain Stock Up 0.0%

Shares of IRM traded up $0.02 during trading on Thursday, reaching $99.50. 301,089 shares of the company traded hands, compared to its average volume of 1,779,527. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock has a market cap of $29.39 billion, a PE ratio of 711.16 and a beta of 1.08. The stock has a 50-day simple moving average of $94.94 and a 200-day simple moving average of $93.52.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.2%. Iron Mountain's payout ratio is currently 2,242.86%.

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.