California Public Employees Retirement System Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

California Public Employees Retirement System lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,456 shares of the financial services provider's stock after selling 26,931 shares during the period. California Public Employees Retirement System owned about 0.17% of Iron Mountain worth $52,182,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geller Advisors LLC boosted its position in shares of Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after buying an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after acquiring an additional 106 shares in the last quarter. Mather Group LLC. raised its stake in Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after acquiring an additional 113 shares in the last quarter. Finally, One Charles Private Wealth Services LLC lifted its position in Iron Mountain by 1.0% in the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after acquiring an additional 119 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last ninety days. Insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

IRM stock traded down $5.04 during trading on Thursday, reaching $83.07. 1,967,556 shares of the company were exchanged, compared to its average volume of 1,774,710. The stock's 50 day moving average price is $93.03 and its 200 day moving average price is $107.57. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The company has a market cap of $24.40 billion, a P/E ratio of 136.17, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $125.67.

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.