Swiss National Bank Sells 25,500 Shares of Iron Mountain Incorporated (NYSE:IRM)

Swiss National Bank reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,561 shares of the financial services provider’s stock after selling 25,500 shares during the quarter. Swiss National Bank’s holdings in Iron Mountain were worth $63,861,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IRM. Global Retirement Partners LLC increased its holdings in Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after buying an additional 156 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Iron Mountain by 17.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after buying an additional 177 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Iron Mountain by 4.0% in the 4th quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after buying an additional 179 shares in the last quarter. Finally, Aspire Private Capital LLC grew its position in shares of Iron Mountain by 2.1% in the 3rd quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock worth $552,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $75.32 on Monday. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 114.12, a PEG ratio of 4.51 and a beta of 0.96. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19. The company has a 50 day simple moving average of $78.13 and a two-hundred day simple moving average of $69.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share 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 analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

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

Analysts Set New Price Targets

IRM has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays increased their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the firm’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 $247,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 996 shares of Iron Mountain 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 completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders have sold 146,249 shares of company stock valued at $11,480,051 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

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.