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

Swiss National Bank lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 869,961 shares of the financial services provider’s stock after purchasing an additional 2,200 shares during the quarter. Swiss National Bank owned 0.30% of Iron Mountain worth $103,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in shares of Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its stake in shares of Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Iron Mountain by 2.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 107 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.5 %

IRM stock opened at $115.50 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $61.80 and a fifty-two week high of $130.24. The business’s 50 day moving average price is $119.68 and its two-hundred day moving average price is $103.52. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 320.84, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.48%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $129.40.

Insiders Place Their Bets

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

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.