Swiss National Bank Trims Holdings in Iron Mountain Inc (IRM)

Swiss National Bank reduced its stake in Iron Mountain Inc (NYSE:IRM) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 867,064 shares of the financial services provider’s stock after selling 27,500 shares during the period. Swiss National Bank’s holdings in Iron Mountain were worth $29,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of IRM. Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 1.4% in the first quarter. Principal Financial Group Inc. now owns 431,673 shares of the financial services provider’s stock worth $14,185,000 after acquiring an additional 6,112 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Iron Mountain in the second quarter worth approximately $578,000. Janney Montgomery Scott LLC boosted its position in shares of Iron Mountain by 35.4% in the second quarter. Janney Montgomery Scott LLC now owns 68,520 shares of the financial services provider’s stock worth $2,399,000 after acquiring an additional 17,911 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Iron Mountain by 84.7% in the second quarter. BNP Paribas Arbitrage SA now owns 154,773 shares of the financial services provider’s stock worth $5,419,000 after acquiring an additional 70,956 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Iron Mountain in the second quarter worth approximately $115,000. 86.49% of the stock is owned by hedge funds and other institutional investors.

NYSE IRM opened at $32.42 on Monday. Iron Mountain Inc has a one year low of $30.22 and a one year high of $41.51. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $9.28 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Equities research analysts predict that Iron Mountain Inc will post 2.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 17th will be issued a $0.611 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, December 14th. This represents a $2.44 annualized dividend and a yield of 7.54%. Iron Mountain’s dividend payout ratio (DPR) is presently 110.33%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Credit Suisse Group assumed coverage on shares of Iron Mountain in a research report on Friday, August 10th. They issued an “underperform” rating and a $25.00 target price on the stock. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Berenberg Bank assumed coverage on shares of Iron Mountain in a research report on Thursday, September 20th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Bank of America assumed coverage on shares of Iron Mountain in a research report on Tuesday, November 20th. They issued a “neutral” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

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About Iron Mountain

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 over 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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