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

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 44.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,786 shares of the financial services provider's stock after selling 149,795 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Iron Mountain worth $21,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter worth about $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at $36,000. Finally, Family Firm Inc. bought a new stake in Iron Mountain during the 2nd quarter worth about $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock valued at $6,613,584 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Stock Down 0.5 %

NYSE:IRM traded down $0.57 during trading hours on Friday, reaching $123.67. The company's stock had a trading volume of 858,209 shares, compared to its average volume of 1,587,391. Iron Mountain Incorporated has a one year low of $62.95 and a one year high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 343.54, a price-to-earnings-growth ratio of 7.47 and a beta of 0.99. The business's 50-day moving average is $120.59 and its 200-day moving average is $105.84.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is presently 794.47%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRM. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday. Barclays reduced their target price on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Finally, Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $131.00.

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.