Forsta AP Fonden Sells 5,400 Shares of Iron Mountain Incorporated (NYSE:IRM)

Forsta AP Fonden lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,000 shares of the financial services provider’s stock after selling 5,400 shares during the quarter. Forsta AP Fonden’s holdings in Iron Mountain were worth $4,839,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. increased its position in shares of Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after purchasing an additional 475,849 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $228,391,000. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE IRM opened at $117.06 on Friday. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $117.83. The company has a 50-day simple moving average of $106.10 and a 200 day simple moving average of $89.93. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $34.31 billion, a PE ratio of 177.36, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.35, for a total transaction of $547,770.00. Following the transaction, the executive vice president now owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The disclosure for this sale can be found here. Insiders sold 68,882 shares of company stock worth $6,293,740 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. 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 report on Wednesday, July 10th. 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 report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.