California Public Employees Retirement System Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

California Public Employees Retirement System lowered its holdings in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585,761 shares of the financial services provider’s stock after selling 15,662 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Iron Mountain worth $28,521,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of IRM. Pictet Asset Management SA raised its stake in Iron Mountain by 67.9% in the second quarter. Pictet Asset Management SA now owns 2,866,745 shares of the financial services provider’s stock valued at $139,582,000 after purchasing an additional 1,159,261 shares in the last quarter. Border to Coast Pensions Partnership Ltd bought a new position in shares of Iron Mountain in the 1st quarter worth $44,022,000. Royal Bank of Canada raised its position in shares of Iron Mountain by 97.1% during the 1st quarter. Royal Bank of Canada now owns 1,069,486 shares of the financial services provider’s stock valued at $59,260,000 after buying an additional 526,994 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Iron Mountain by 64.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,210,728 shares of the financial services provider’s stock worth $58,950,000 after acquiring an additional 475,137 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Iron Mountain by 32.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,818,456 shares of the financial services provider’s stock worth $88,541,000 after acquiring an additional 449,724 shares in the last quarter. Institutional investors own 76.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com began coverage on Iron Mountain in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Evercore ISI dropped their target price on Iron Mountain to $60.00 in a research report on Tuesday.

Iron Mountain Stock Performance

Iron Mountain stock opened at $51.32 on Friday. The firm has a fifty day simple moving average of $49.00 and a two-hundred day simple moving average of $50.20. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 19.16. Iron Mountain Incorporated has a twelve month low of $41.67 and a twelve month high of $58.61. The company has a market capitalization of $14.92 billion, a PE ratio of 30.37, a P/E/G ratio of 3.62 and a beta of 0.84.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 15th will be issued a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 4.82%. The ex-dividend date is Wednesday, December 14th. Iron Mountain’s dividend payout ratio is presently 146.15%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $52.06, for a total value of $546,994.42. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $15,391,539. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $52.06, for a total value of $546,994.42. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $15,391,539. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah Marson sold 1,125 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $53.82, for a total transaction of $60,547.50. Following the sale, the executive vice president now directly owns 50,282 shares of the company’s stock, valued at approximately $2,706,177.24. The disclosure for this sale can be found here. Insiders have sold a total of 24,391 shares of company stock worth $1,202,948 in the last ninety days. 2.10% of the stock is owned by insiders.

Iron Mountain Company Profile

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Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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