Maryland State Retirement & Pension System Increases Holdings in Iron Mountain Incorporated $IRM

Maryland State Retirement & Pension System grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,259 shares of the financial services provider’s stock after acquiring an additional 650 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Iron Mountain were worth $1,463,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter worth approximately $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth $37,000. Finally, Crewe Advisors LLC increased its holdings in shares of Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 500 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IRM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group began coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $116.83.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by company insiders.

Iron Mountain Stock Down 2.8%

NYSE IRM opened at $101.98 on Friday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a market capitalization of $30.12 billion, a P/E ratio of 728.48 and a beta of 1.06. The company has a 50-day moving average price of $96.49 and a 200-day moving average price of $95.44.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

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.