Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Iron Mountain Incorporated (NYSE:IRM)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 184,413 shares of the financial services provider’s stock after selling 373 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Iron Mountain were worth $19,384,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IRM. CWA Asset Management Group LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $240,000. Assetmark Inc. increased its holdings in Iron Mountain by 12.8% during the 3rd quarter. Assetmark Inc. now owns 48,535 shares of the financial services provider’s stock worth $5,767,000 after purchasing an additional 5,502 shares during the period. Axxcess Wealth Management LLC raised its position in Iron Mountain by 13.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,569,000 after purchasing an additional 1,566 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth $31,000. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Iron Mountain by 82.4% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,200 shares of the financial services provider’s stock worth $737,000 after buying an additional 2,801 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.6 %

NYSE IRM opened at $84.70 on Wednesday. The firm has a market cap of $24.88 billion, a PE ratio of 138.86, 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 company has a 50 day moving average price of $99.43 and a 200 day moving average price of $110.61.

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

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.71%. Iron Mountain’s payout ratio is presently 514.75%.

Insider Activity at Iron Mountain

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

Analyst Ratings Changes

Several analysts recently weighed in on IRM shares. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays reduced their price objective 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, January 28th. Finally, Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $127.67.

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.