Swiss National Bank Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Swiss National Bank decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 912,561 shares of the financial services provider’s stock after selling 25,500 shares during the quarter. Swiss National Bank owned 0.31% of Iron Mountain worth $63,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of IRM. Manchester Capital Management LLC lifted its holdings in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares during the last quarter. Blue Trust Inc. lifted its stake in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain during the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at about $32,000. Finally, Muzinich & Co. Inc. purchased a new position in shares of Iron Mountain in the third quarter worth about $35,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now owns 432,682 shares in the company, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Insiders have sold a total of 146,249 shares of company stock valued at $11,480,051 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Stock Performance

NYSE:IRM opened at $75.32 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The stock has a market cap of $22.08 billion, a P/E ratio of 114.12, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96. The firm’s fifty day simple moving average is $78.13 and its 200 day simple moving average is $69.92.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. Iron Mountain’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, research analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 3.45%. Iron Mountain’s dividend payout ratio is presently 393.95%.

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.