Swiss National Bank Acquires 27,700 Shares of Iron Mountain Inc (NYSE:IRM)

Swiss National Bank increased its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 3.1% in the second quarter, Holdings Channel.com reports. The fund owned 933,664 shares of the financial services provider’s stock after buying an additional 27,700 shares during the quarter. Swiss National Bank’s holdings in Iron Mountain were worth $29,224,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IRM. BlackRock Inc. increased its holdings in Iron Mountain by 0.7% during the 1st quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock worth $718,826,000 after purchasing an additional 147,381 shares during the period. Dimensional Fund Advisors LP increased its holdings in Iron Mountain by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock worth $133,783,000 after purchasing an additional 45,950 shares during the period. Geode Capital Management LLC increased its holdings in Iron Mountain by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock worth $126,683,000 after purchasing an additional 270,237 shares during the period. Northern Trust Corp increased its holdings in Iron Mountain by 1.0% during the 1st quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock worth $121,169,000 after purchasing an additional 33,106 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Iron Mountain by 19.1% during the 1st quarter. California Public Employees Retirement System now owns 1,590,207 shares of the financial services provider’s stock worth $56,389,000 after purchasing an additional 254,735 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Walter C. Rakowich sold 2,024 shares of Iron Mountain stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total value of $63,695.28. Following the transaction, the director now directly owns 23,360 shares in the company, valued at approximately $735,139.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Several research analysts have commented on IRM shares. Robert W. Baird upgraded Iron Mountain from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $27.00 to $29.00 in a report on Friday, August 2nd. Wells Fargo & Co started coverage on Iron Mountain in a report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 price objective on the stock. TheStreet downgraded Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. Bank of America downgraded Iron Mountain from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $25.00 in a report on Thursday, July 11th. Finally, ValuEngine downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Iron Mountain presently has an average rating of “Hold” and an average target price of $35.08.

Shares of NYSE:IRM opened at $31.82 on Thursday. Iron Mountain Inc has a 12-month low of $29.28 and a 12-month high of $37.32. The business’s fifty day simple moving average is $30.80 and its 200-day simple moving average is $33.04. The company has a market capitalization of $9.11 billion, a PE ratio of 13.83, a P/E/G ratio of 3.71 and a beta of 0.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.30 EPS. The business’s revenue was up .6% compared to the same quarter last year. Research analysts predict that Iron Mountain Inc will post 2.26 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be issued a $0.611 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.68%. Iron Mountain’s dividend payout ratio is presently 106.09%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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