Forsta AP Fonden Buys 11,200 Shares of Iron Mountain Incorporated (NYSE:IRM)

Forsta AP Fonden boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 20.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,200 shares of the financial services provider’s stock after acquiring an additional 11,200 shares during the period. Forsta AP Fonden’s holdings in Iron Mountain were worth $7,748,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRM. Assenagon Asset Management S.A. raised its holdings in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares during the period. Schmidt P J Investment Management Inc. raised its stake in shares of Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after buying an additional 100 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after buying an additional 107 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Iron Mountain by 1.2% during the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 114 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Iron Mountain by 2.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 117 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRM shares. Wells Fargo & Company increased their target price 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. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays lifted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Stock Up 1.4 %

IRM opened at $127.70 on Monday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $130.24. The firm has a market capitalization of $37.46 billion, a P/E ratio of 163.72, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. The company has a fifty day moving average price of $117.12 and a 200-day moving average price of $98.61.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 366.67%.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock valued at $3,511,505 in the last quarter. Insiders own 2.10% of the company’s stock.

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.