California Public Employees Retirement System Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

California Public Employees Retirement System reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,456 shares of the financial services provider’s stock after selling 26,931 shares during the period. California Public Employees Retirement System’s holdings in Iron Mountain were worth $52,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc increased its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at about $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the 4th quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter valued at approximately $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.0 %

Shares of NYSE IRM opened at $86.93 on Wednesday. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock has a market cap of $25.53 billion, a PE ratio of 142.50, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a 50-day moving average of $94.03 and a 200 day moving average of $107.88.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on IRM shares. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

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.