Swedbank AB Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Swedbank AB lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 228,052 shares of the financial services provider’s stock after selling 1,160 shares during the period. Swedbank AB’s holdings in Iron Mountain were worth $27,099,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $120.84 on Tuesday. Iron Mountain Incorporated has a 1 year low of $62.58 and a 1 year high of $130.24. The stock has a market capitalization of $35.46 billion, a PE ratio of 335.68, a PEG ratio of 7.16 and a beta of 0.99. 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 stock has a 50-day simple moving average of $119.91 and a 200-day simple moving average of $104.96.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $129.40.

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.