Swiss National Bank Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Swiss National Bank decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.7% in the 4th quarter, according to its most recent Form 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 quarter. Swiss National Bank’s holdings in Iron Mountain were worth $87,111,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the 4th quarter worth approximately $26,000. Key Financial Inc raised its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter worth $36,000. Finally, Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Up 1.9 %

NYSE:IRM opened at $86.68 on Friday. The firm has a market capitalization of $25.46 billion, a P/E ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a fifty day moving average of $98.28 and a 200 day moving average of $110.08. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

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

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given 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 of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IRM shares. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday. Finally, Barclays reduced their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Insider Activity

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. This trade 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 have sold 327,242 shares of company stock valued at $31,530,305. Company 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.