Iron Mountain Incorporated (NYSE:IRM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,631 shares of the financial services provider’s stock after selling 8,557 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Iron Mountain worth $26,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IRM. Asset Planning Inc bought a new position in shares of Iron Mountain in the fourth quarter worth $315,000. V Square Quantitative Management LLC lifted its holdings in Iron Mountain by 3.1% in the fourth quarter. V Square Quantitative Management LLC now owns 7,019 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 214 shares during the period. Palacios Wealth Management LLC acquired a new position in Iron Mountain during the 4th quarter valued at about $373,000. Vontobel Holding Ltd. increased its stake in Iron Mountain by 3.7% during the 4th quarter. Vontobel Holding Ltd. now owns 4,668 shares of the financial services provider’s stock valued at $491,000 after buying an additional 168 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Iron Mountain by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock worth $5,841,000 after buying an additional 5,150 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 0.1 %

NYSE IRM opened at $95.34 on Friday. Iron Mountain Incorporated has a 1 year low of $67.09 and a 1 year high of $130.24. The company has a market cap of $27.98 billion, a PE ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01. The stock’s 50-day moving average price is $105.45 and its two-hundred day moving average price is $112.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $0.52 EPS. Research analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock valued at $16,805,912. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Iron Mountain 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.