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

Swiss National Bank cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 828,761 shares of the financial services provider’s stock after selling 41,200 shares during the period. Swiss National Bank owned about 0.28% of Iron Mountain worth $87,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IRM. OneDigital Investment Advisors LLC raised its holdings in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the last quarter. Geller Advisors LLC increased its stake in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after buying an additional 100 shares during the last quarter. Claro Advisors LLC lifted its position in shares of Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after buying an additional 106 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.9 %

NYSE IRM opened at $86.68 on Friday. The company has a market cap of $25.46 billion, a PE ratio of 142.09, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm’s 50-day simple moving average is $98.28 and its two-hundred day simple moving average is $110.08.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm earned $0.52 EPS. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on IRM shares. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday. Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted 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. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.