Handelsbanken Fonder AB Buys 48,170 Shares of Iron Mountain Incorporated (NYSE:IRM)

Handelsbanken Fonder AB increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,087 shares of the financial services provider's stock after buying an additional 48,170 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Iron Mountain worth $11,343,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Iron Mountain by 201.7% in the fourth 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 bought a new position in Iron Mountain during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC lifted its holdings in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider's stock worth $25,000 after buying an additional 419 shares during the last quarter. CVA Family Office LLC bought a new position in Iron Mountain during the 4th quarter worth approximately $32,000. Finally, Hanson & Doremus Investment Management bought a new position in Iron Mountain during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $20,175,156. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the transaction, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $20,175,156. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock valued at $12,698,221 over the last three months. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IRM has been the topic of several recent research reports. Stifel Nicolaus raised their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. TheStreet lowered shares of Iron Mountain from a "b" rating to a "c" rating in a research report on Thursday, February 22nd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Finally, Barclays increased their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.80.

Iron Mountain Price Performance

NYSE IRM traded up $1.59 on Wednesday, reaching $78.19. The company's stock had a trading volume of 1,095,405 shares, compared to its average volume of 1,412,232. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $22.92 billion, a PE ratio of 124.11, a PEG ratio of 4.56 and a beta of 0.94. The firm's 50 day moving average is $77.10 and its two-hundred day moving average is $69.11.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.98 earnings per share. Iron Mountain's revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain's dividend payout ratio is presently 412.70%.

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.