Zurcher Kantonalbank Zurich Cantonalbank Purchases 54,245 Shares of Iron Mountain Incorporated (NYSE:IRM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Iron Mountain Incorporated (NYSE:IRM) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,276 shares of the financial services provider’s stock after acquiring an additional 54,245 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Iron Mountain were worth $21,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in IRM. Harbor Investment Advisory LLC increased its stake in Iron Mountain by 92.2% in the 3rd quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the last quarter. Blue Trust Inc. increased its position in shares of Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in shares of Iron Mountain during the 2nd quarter valued at approximately $25,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IRM. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Stifel Nicolaus boosted their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Barclays boosted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Insider Activity

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,124 shares of company stock valued at $12,698,221. Company insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 0.6 %

Shares of NYSE:IRM opened at $75.15 on Thursday. The business’s 50-day moving average is $76.31 and its 200 day moving average is $68.47. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19. The firm has a market capitalization of $21.96 billion, a P/E ratio of 119.29, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78.

Iron Mountain (NYSE:IRM) last announced its 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). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

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.