Tredje AP fonden Sells 23,056 Shares of Iron Mountain Incorporated (NYSE:IRM)

Tredje AP fonden trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,057 shares of the financial services provider’s stock after selling 23,056 shares during the quarter. Tredje AP fonden’s holdings in Iron Mountain were worth $2,424,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IRM. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the third quarter worth about $36,000. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter valued at about $53,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $84.96 on Friday. The company’s fifty day moving average price is $99.06 and its 200-day moving average price is $110.45. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The firm has a market capitalization of $24.96 billion, a PE ratio of 139.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 3.70%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of analyst reports. Royal Bank of Canada lifted 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. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $127.67.

Insider Activity

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 in the last ninety days. Insiders own 2.10% of the company’s stock.

Iron Mountain 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.