State of New Jersey Common Pension Fund D Boosts Position in Iron Mountain Incorporated $IRM

State of New Jersey Common Pension Fund D grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 97,012 shares of the financial services provider’s stock after acquiring an additional 272 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Iron Mountain were worth $9,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its position in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,860 shares during the period. Goldman Sachs Group Inc. boosted its stake in Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after buying an additional 913,715 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Iron Mountain in the 1st quarter valued at about $30,000. Steward Partners Investment Advisory LLC increased its stake in shares of Iron Mountain by 1.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 513 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Iron Mountain during the 2nd quarter valued at about $10,093,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock worth $20,347,156 in the last three months. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Up 1.4%

Shares of NYSE:IRM opened at $105.34 on Friday. The firm has a 50-day simple moving average of $98.96 and a 200 day simple moving average of $96.98. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market cap of $31.11 billion, a PE ratio of 752.50 and a beta of 1.06.

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

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio is 2,242.86%.

Analysts Set New Price Targets

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

Iron Mountain Company 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.