Skandinaviska Enskilda Banken AB publ Acquires 5,056 Shares of Iron Mountain Incorporated (NYSE:IRM)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,895 shares of the financial services provider’s stock after buying an additional 5,056 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Iron Mountain were worth $5,368,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new position in Iron Mountain in the 4th quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain during the 2nd quarter valued at approximately $36,000. Heritage Wealth Advisors acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $38,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $115.36 on Monday. The company has a market cap of $33.82 billion, a price-to-earnings ratio of 174.79, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $118.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a 50 day moving average of $108.27 and a 200-day moving average of $91.31.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock worth $3,352,406 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on IRM shares. The Goldman Sachs Group increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.83.

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.