Tredje AP fonden Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

Tredje AP fonden lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,057 shares of the financial services provider's stock after selling 23,056 shares during the quarter. Tredje AP fonden's holdings in Iron Mountain were worth $2,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the third quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC boosted its holdings in Iron Mountain by 40.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider's stock worth $270,000 after purchasing an additional 651 shares during the last quarter. Savvy Advisors Inc. purchased a new stake in Iron Mountain in the third quarter worth approximately $209,000. MQS Management LLC bought a new position in Iron Mountain in the third quarter worth approximately $205,000. Finally, Oppenheimer & Co. Inc. raised its position in Iron Mountain by 36.1% in the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock worth $2,281,000 after acquiring an additional 5,086 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company's stock.

Remove Ads

Iron Mountain Price Performance

Shares of IRM stock traded down $1.59 on Tuesday, hitting $87.56. 1,787,704 shares of the stock traded hands, compared to its average volume of 1,675,025. The firm has a market cap of $25.72 billion, a price-to-earnings ratio of 143.54, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50 day simple moving average of $98.00 and a two-hundred day simple moving average of $109.87. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is currently 514.75%.

Analyst Ratings Changes

Several research analysts have weighed in on IRM shares. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price target 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. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.67.

Iron Mountain Company 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.