Nordea Investment Management AB Has $2.91 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Nordea Investment Management AB raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,961 shares of the financial services provider’s stock after purchasing an additional 685 shares during the quarter. Nordea Investment Management AB’s holdings in Iron Mountain were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the last quarter. Friedenthal Financial bought a new position in shares of Iron Mountain in the third quarter valued at approximately $824,000. Tidal Investments LLC raised its stake in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $24,122,000. Finally, World Investment Advisors LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $554,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. Barclays dropped their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Down 1.6 %

Shares of IRM stock opened at $101.21 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50-day moving average is $112.71 and its 200-day moving average is $111.15. The stock has a market cap of $29.70 billion, a price-to-earnings ratio of 281.15, a PEG ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.83%. Iron Mountain’s dividend payout ratio is currently 794.44%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock valued at $13,666,427 in the last three months. 2.10% of the stock is currently owned by company insiders.

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.