Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its equity stake in Iron Mountain Incorporated by 5.6%, owning approximately 194,795 shares worth $16.76 million as of the end of the first quarter.
• Iron Mountain's most recent earnings report revealed an EPS of $1.17, surpassing analysts' expectations, while the company reported a revenue increase of 7.9% year-over-year.
• The company recently declared a quarterly dividend of $0.785 per share, representing an annualized yield of 3.16% with a high dividend payout ratio of 765.85%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 194,795 shares of the financial services provider's stock after purchasing an additional 10,382 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Iron Mountain worth $16,760,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC boosted its stake in shares of Iron Mountain by 12.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,920 shares of the financial services provider's stock valued at $938,000 after acquiring an additional 957 shares during the last quarter. Allstate Corp acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $895,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Iron Mountain by 14.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider's stock worth $2,572,000 after buying an additional 3,008 shares in the last quarter. Summit Financial LLC raised its position in shares of Iron Mountain by 39.7% in the fourth quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider's stock valued at $648,000 after buying an additional 1,744 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Iron Mountain by 7.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider's stock valued at $2,594,000 after buying an additional 1,651 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent analyst reports. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays increased their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Finally, Truist Financial started coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and a consensus target price of $121.71.

Iron Mountain Trading Down 3.4%

NYSE:IRM traded down $3.28 on Friday, hitting $94.08. 1,500,940 shares of the stock were exchanged, compared to its average volume of 968,117. The stock has a market cap of $27.76 billion, a PE ratio of 229.46 and a beta of 1.07. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a fifty day moving average of $99.98 and a 200-day moving average of $95.32.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the previous year, the company posted $1.10 earnings per share. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,882 shares of company stock worth $17,007,738. 1.90% of the stock is currently owned by insiders.

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.