Nordea Investment Management AB Grows Stake in Iron Mountain Incorporated $IRM

Nordea Investment Management AB raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,914 shares of the financial services provider’s stock after acquiring an additional 800 shares during the quarter. Nordea Investment Management AB’s holdings in Iron Mountain were worth $6,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Nuveen LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $192,231,000. Contour Asset Management LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $122,801,000. Goldman Sachs Group Inc. lifted its stake in shares of Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after buying an additional 913,715 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Iron Mountain by 117.7% during the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock valued at $77,796,000 after buying an additional 488,816 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after buying an additional 366,134 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IRM shares. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock worth $20,347,156 in the last 90 days. 1.90% of the stock is owned by company insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $105.74 on Tuesday. The company’s fifty day moving average price is $97.99 and its 200-day moving average price is $96.35. The firm has a market capitalization of $31.23 billion, a price-to-earnings ratio of 755.34 and a beta of 1.06. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

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.