Zurcher Kantonalbank Zurich Cantonalbank Has $21.57 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,276 shares of the financial services provider’s stock after buying an additional 54,245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Iron Mountain worth $21,573,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $16,590,000. Allworth Financial LP lifted its holdings in shares of Iron Mountain by 6,889.9% in the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock worth $4,422,000 after acquiring an additional 62,285 shares during the last quarter. Waverly Advisors LLC bought a new position in shares of Iron Mountain in the third quarter worth about $1,993,000. RPg Family Wealth Advisory LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $3,270,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Iron Mountain by 99.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock worth $5,051,000 after acquiring an additional 42,407 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 0.6 %

Iron Mountain stock opened at $75.15 on Thursday. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain Incorporated has a 52-week low of $52.05 and a 52-week high of $82.19. The firm has a 50 day moving average price of $76.31 and a two-hundred day moving average price of $68.47. The firm has a market cap of $21.96 billion, a price-to-earnings ratio of 119.29, a PEG ratio of 4.49 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock valued at $12,698,221 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

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.