Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 28.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 130,500 shares of the financial services provider’s stock after acquiring an additional 29,000 shares during the period. Employees Retirement System of Texas’ holdings in Iron Mountain were worth $13,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Iron Mountain by 11.8% in the fourth quarter. Cerity Partners LLC now owns 32,836 shares of the financial services provider’s stock worth $3,625,000 after buying an additional 3,474 shares during the period. Wedbush Securities Inc. increased its stake in shares of Iron Mountain by 2.4% in the fourth quarter. Wedbush Securities Inc. now owns 8,031 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 192 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Iron Mountain in the fourth quarter worth $17,350,000. Atlas Capital Advisors Inc. grew its position in Iron Mountain by 1.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 8,688 shares of the financial services provider’s stock worth $913,000 after buying an additional 162 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Iron Mountain in the fourth quarter worth $19,603,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 7.0 %

Shares of IRM stock opened at $77.31 on Monday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97. The business’s 50-day moving average price is $92.35 and its 200-day moving average price is $107.17.

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

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRM. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, March 31st. One equities research 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 has an average rating of “Moderate Buy” and an average target price of $125.67.

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.