Iron Mountain Incorporated (NYSE:IRM) Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 554,841 shares of the financial services provider’s stock after selling 23,717 shares during the quarter. California Public Employees Retirement System’s holdings in Iron Mountain were worth $38,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in IRM. Global Retirement Partners LLC increased its position in Iron Mountain by 1.7% in the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after buying an additional 156 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Iron Mountain by 17.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock worth $82,000 after buying an additional 171 shares during the period. J.W. Cole Advisors Inc. increased its holdings in shares of Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 177 shares during the period. Federated Hermes Inc. increased its holdings in shares of Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 179 shares during the period. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Iron Mountain by 4.6% during the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 188 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,124 shares of company stock valued at $12,698,221. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Stock Up 0.3 %

IRM opened at $77.52 on Friday. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The business has a 50-day moving average of $77.46 and a 200-day moving average of $69.29. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $22.72 billion, a PE ratio of 123.05, a price-to-earnings-growth ratio of 4.62 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s payout ratio is 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.