Iron Mountain Incorporated (NYSE:IRM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,474 shares of the financial services provider’s stock after selling 10,204 shares during the quarter. New York State Common Retirement Fund’s holdings in Iron Mountain were worth $20,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IRM. Key Financial Inc boosted its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the 3rd quarter worth about $36,000. Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Iron Mountain by 104.8% during the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 in the last quarter. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $91.77 on Friday. Iron Mountain Incorporated has a 1-year low of $70.00 and a 1-year high of $130.24. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 5.15 and a beta of 1.01. The business has a 50-day moving average of $103.50 and a 200-day moving average of $112.34.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the prior year, the company earned $0.52 EPS. Research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 468.85%.

Analyst Upgrades and Downgrades

IRM has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, 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, November 27th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.67.

Iron Mountain Company Profile

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.