Iron Mountain Incorporated $IRM Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Iron Mountain Incorporated by 4.0%, owning approximately $32.32 million worth of shares as of the latest SEC filing.
• Several institutions have made significant changes to their positions, with Goldman Sachs Group Inc. increasing its holdings by 86.1% during the first quarter.
• Iron Mountain's recent earnings report showed a quarterly EPS of $1.24, beating estimates, and a revenue increase of 11.6% year-over-year.

Swedbank AB raised its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,060 shares of the financial services provider's stock after buying an additional 12,030 shares during the period. Swedbank AB owned about 0.11% of Iron Mountain worth $32,316,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IRM. Nuveen LLC purchased a new stake in Iron Mountain during the 1st quarter valued at $192,231,000. Contour Asset Management LLC purchased a new position in Iron Mountain in the first quarter worth about $122,801,000. Goldman Sachs Group Inc. grew its stake in shares of Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider's stock worth $169,922,000 after acquiring an additional 913,715 shares during the period. Principal Financial Group Inc. grew its position in Iron Mountain by 117.7% during the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock valued at $77,796,000 after buying an additional 488,816 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Iron Mountain during the fourth quarter valued at approximately $39,687,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 1.0%

Shares of IRM stock traded up $0.98 during mid-day trading on Friday, reaching $99.90. The stock had a trading volume of 3,124,238 shares, compared to its average volume of 1,344,872. The company has a market cap of $29.51 billion, a P/E ratio of 713.62 and a beta of 1.08. The business has a 50-day simple moving average of $94.98 and a 200 day simple moving average of $93.70. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IRM shares. Barclays upped their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and a consensus price target of $120.17.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is owned by company insiders.

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.