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

New York State Teachers Retirement System lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,584 shares of the financial services provider’s stock after selling 19,511 shares during the period. New York State Teachers Retirement System owned 0.10% of Iron Mountain worth $20,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Iron Mountain by 6,889.9% in the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock valued at $4,422,000 after acquiring an additional 62,285 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at about $1,993,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $3,270,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Iron Mountain by 99.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock valued at $5,051,000 after buying an additional 42,407 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Iron Mountain by 6.1% in the third quarter. Public Sector Pension Investment Board now owns 59,274 shares of the financial services provider’s stock valued at $3,524,000 after buying an additional 3,405 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Stifel Nicolaus upped their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company upped their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,249 shares of company stock worth $11,480,926. 2.20% of the stock is owned by company insiders.

Iron Mountain Trading Up 0.1 %

NYSE IRM opened at $78.74 on Tuesday. The stock has a market capitalization of $23.01 billion, a P/E ratio of 124.99, a P/E/G ratio of 4.73 and a beta of 0.94. Iron Mountain Incorporated has a 52-week low of $51.62 and a 52-week high of $82.19. The firm has a 50-day moving average price of $75.25 and a 200 day moving average price of $67.75. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.30%. Iron Mountain’s payout ratio is currently 412.70%.

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.