Iron Mountain Incorporated $IRM Stock Holdings Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,925 shares of the financial services provider’s stock after purchasing an additional 186 shares during the period. New York State Teachers Retirement System’s holdings in Iron Mountain were worth $23,378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mutual Advisors LLC grew its position in Iron Mountain by 1.5% during the second quarter. Mutual Advisors LLC now owns 132,456 shares of the financial services provider’s stock valued at $13,158,000 after purchasing an additional 2,013 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in Iron Mountain during the second quarter valued at approximately $275,000. Harbour Trust & Investment Management Co purchased a new position in Iron Mountain during the second quarter valued at approximately $205,000. RFG Advisory LLC grew its position in Iron Mountain by 9.2% during the second quarter. RFG Advisory LLC now owns 19,848 shares of the financial services provider’s stock valued at $2,036,000 after purchasing an additional 1,665 shares in the last quarter. Finally, Naviter Wealth LLC grew its position in Iron Mountain by 7.6% during the second quarter. Naviter Wealth LLC now owns 22,341 shares of the financial services provider’s stock valued at $2,308,000 after purchasing an additional 1,572 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 1.1%

Shares of IRM stock opened at $104.60 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm’s fifty day simple moving average is $97.67 and its 200 day simple moving average is $96.01. The firm has a market capitalization of $30.89 billion, a P/E ratio of 747.20 and a beta of 1.06.

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, topping analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion for 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%. Iron Mountain’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. Iron Mountain’s dividend payout ratio is presently 2,242.86%.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $6,535,768.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Iron Mountain Profile

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.