Credit Suisse AG Has $20.89 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Jun 8th, 2023

Credit Suisse AG increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 419,117 shares of the financial services provider’s stock after purchasing an additional 29,102 shares during the quarter. Credit Suisse AG owned approximately 0.14% of Iron Mountain worth $20,893,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 625 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in Iron Mountain in the fourth quarter valued at $48,000. CENTRAL TRUST Co lifted its stake in Iron Mountain by 45.2% in the third quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 500 shares during the last quarter. Spire Wealth Management lifted its stake in Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 781 shares during the last quarter. Finally, Baldwin Brothers LLC MA raised its position in shares of Iron Mountain by 67.3% in the fourth quarter. Baldwin Brothers LLC MA now owns 2,008 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 808 shares during the period. Institutional investors and hedge funds own 77.12% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $54.00, for a total transaction of $60,750.00. Following the sale, the executive vice president now directly owns 62,026 shares in the company, valued at $3,349,404. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Edward Baker-Greene sold 4,578 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $55.00, for a total value of $251,790.00. Following the sale, the executive vice president now directly owns 8,216 shares in the company, valued at approximately $451,880. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Marson sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $54.00, for a total transaction of $60,750.00. Following the completion of the sale, the executive vice president now owns 62,026 shares in the company, valued at $3,349,404. The disclosure for this sale can be found here. Insiders have sold 45,799 shares of company stock worth $2,505,052 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $56.36 on Thursday. Iron Mountain Incorporated has a 52 week low of $43.33 and a 52 week high of $57.21. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 3.70 and a beta of 0.91. The firm’s 50-day simple moving average is $54.21 and its 200 day simple moving average is $53.11. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.6185 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a yield of 4.39%. Iron Mountain’s payout ratio is 124.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IRM shares. Barclays increased their price objective on shares of Iron Mountain from $56.00 to $64.00 in a research report on Friday, May 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research report on Monday, March 6th. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

Iron Mountain Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.