Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 37.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,084 shares of the financial services provider’s stock after acquiring an additional 14,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Iron Mountain were worth $5,580,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the last quarter. abrdn plc raised its stake in shares of Iron Mountain by 88.2% in the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after purchasing an additional 293,425 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 240,261 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Iron Mountain by 368.4% in the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock worth $36,289,000 after purchasing an additional 240,195 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $92.33 on Wednesday. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 151.36, a PEG ratio of 5.15 and a beta of 1.01. The stock has a 50 day simple moving average of $102.75 and a 200-day simple moving average of $112.16. Iron Mountain Incorporated has a 1-year low of $73.45 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the company earned $0.52 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.40%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 in the last three months. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRM. Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of “Buy” and an average 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.