Iron Mountain Incorporated (NYSE:IRM) Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 44.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 184,786 shares of the financial services provider’s stock after selling 149,795 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Iron Mountain worth $21,958,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Iron Mountain by 284.1% in the first quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock valued at $1,477,000 after purchasing an additional 13,621 shares during the period. Swedbank AB bought a new position in Iron Mountain in the 1st quarter worth approximately $19,445,000. Atria Investments Inc acquired a new stake in Iron Mountain in the 1st quarter valued at approximately $1,873,000. Cetera Investment Advisers raised its stake in Iron Mountain by 708.9% during the 1st quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider’s stock valued at $18,437,000 after acquiring an additional 201,448 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in Iron Mountain by 14.7% during the 1st quarter. Cetera Advisors LLC now owns 69,505 shares of the financial services provider’s stock worth $5,575,000 after acquiring an additional 8,917 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock valued at $6,613,584 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.4 %

Shares of NYSE:IRM opened at $123.75 on Friday. 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 stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 343.76, a PEG ratio of 7.47 and a beta of 0.99. Iron Mountain Incorporated has a 1-year low of $62.95 and a 1-year high of $130.24. The company has a 50 day moving average price of $120.42 and a 200 day moving average price of $105.53.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays decreased their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $131.00.

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.