Nordea Investment Management AB Buys 685 Shares of Iron Mountain Incorporated (NYSE:IRM)

Nordea Investment Management AB lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC bought a new position in Iron Mountain in the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the 3rd quarter valued at about $36,000. Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the last quarter. Finally, Quarry LP increased its stake in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after buying an additional 230 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IRM. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays decreased 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 note on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average price target of $131.00.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Iron Mountain stock opened at $101.21 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $29.70 billion, a PE ratio of 281.15, a P/E/G ratio of 6.70 and a beta of 1.02. The firm has a fifty day simple moving average of $112.71 and a two-hundred day simple moving average of $111.15. Iron Mountain Incorporated has a twelve month low of $64.68 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

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

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.