Swedbank AB Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Swedbank AB boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,938 shares of the financial services provider’s stock after purchasing an additional 60,886 shares during the quarter. Swedbank AB owned about 0.10% of Iron Mountain worth $30,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares in the last quarter. abrdn plc raised its holdings in shares of Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after purchasing an additional 293,425 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Iron Mountain by 368.4% in the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after acquiring an additional 240,195 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 1.7 %

Shares of IRM stock opened at $102.33 on Friday. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24. The stock has a 50 day moving average of $109.64 and a 200 day moving average of $112.42. The stock has a market cap of $30.03 billion, a P/E ratio of 284.26, a P/E/G ratio of 6.05 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective 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. Finally, Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.83.

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.