Swiss National Bank Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Swiss National Bank raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 869,961 shares of the financial services provider’s stock after acquiring an additional 2,200 shares during the quarter. Swiss National Bank’s holdings in Iron Mountain were worth $103,377,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Iron Mountain by 5.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock valued at $105,348,000 after buying an additional 56,503 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.5 %

Shares of IRM opened at $115.50 on Tuesday. Iron Mountain Incorporated has a 12-month low of $61.80 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $33.89 billion, a PE ratio of 320.84, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. The business’s 50 day moving average is $119.68 and its 200 day moving average is $103.52.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.48%. Iron Mountain’s payout ratio is 794.47%.

Insiders Place Their Bets

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last three months. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IRM shares. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays decreased their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus lifted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and an average price target of $129.40.

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.