Louisiana State Employees Retirement System Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Louisiana State Employees Retirement System purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,700 shares of the financial services provider’s stock, valued at approximately $1,239,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Iron Mountain during the fourth quarter worth about $16,590,000. Allworth Financial LP grew its position in shares of Iron Mountain by 6,889.9% during the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock worth $4,422,000 after buying an additional 62,285 shares in the last quarter. Waverly Advisors LLC acquired a new position in shares of Iron Mountain during the third quarter worth about $1,993,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth about $3,270,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Iron Mountain by 99.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock worth $5,051,000 after buying an additional 42,407 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $75.85 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market capitalization of $22.17 billion, a P/E ratio of 120.40, a P/E/G ratio of 4.51 and a beta of 0.94. The firm’s 50 day moving average is $76.70 and its two-hundred day moving average is $68.91. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business 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 business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.43%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $20,175,156. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,124 shares of company stock worth $12,698,221. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of analyst reports. Wells Fargo & Company boosted 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. TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

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.