Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 828,761 shares of the financial services provider's stock after selling 41,200 shares during the quarter. Swiss National Bank owned 0.28% of Iron Mountain worth $87,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the 3rd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Iron Mountain by 40.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider's stock worth $270,000 after purchasing an additional 651 shares during the period. MQS Management LLC purchased a new position in shares of Iron Mountain in the 3rd quarter worth approximately $205,000. Oppenheimer & Co. Inc. increased its position in shares of Iron Mountain by 36.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock valued at $2,281,000 after purchasing an additional 5,086 shares during the last quarter. Finally, KBC Group NV raised its holdings in Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider's stock valued at $36,289,000 after buying an additional 240,195 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock worth $31,530,305 over the last quarter. Insiders own 2.10% of the company's stock.

Iron Mountain Price Performance

Shares of IRM stock traded up $1.01 during mid-day trading on Wednesday, hitting $88.63. The stock had a trading volume of 1,449,528 shares, compared to its average volume of 1,675,844. The firm has a market capitalization of $26.04 billion, a P/E ratio of 145.30, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The firm's 50-day moving average is $97.73 and its two-hundred day moving average is $109.69.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.58 billion during 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 quarter in the prior year, the firm posted $0.52 EPS. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.54%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Analyst Ratings Changes

A number of research firms have weighed in on IRM. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.

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.