Forsta AP Fonden Has $6.61 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Forsta AP Fonden reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 62,900 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Forsta AP Fonden’s holdings in Iron Mountain were worth $6,611,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Friedenthal Financial bought a new stake in shares of Iron Mountain in the third quarter valued at about $824,000. Merit Financial Group LLC lifted its stake in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC lifted its stake in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the third quarter valued at about $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.6 %

Shares of IRM opened at $101.37 on Friday. The stock has a market cap of $29.75 billion, a price-to-earnings ratio of 281.58, a P/E/G ratio of 5.53 and a beta of 1.02. The company has a 50-day moving average price of $109.28 and a two-hundred day moving average price of $112.45. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays cut their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.83.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,016 shares of company stock valued at $13,666,427. Corporate insiders own 2.10% of the company’s stock.

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.