Employees Retirement System of Texas Has $13.72 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Employees Retirement System of Texas grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,500 shares of the financial services provider's stock after purchasing an additional 29,000 shares during the quarter. Employees Retirement System of Texas' holdings in Iron Mountain were worth $13,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Key Financial Inc raised its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain during the 4th quarter worth approximately $53,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.76 on Friday, hitting $83.39. The stock had a trading volume of 1,727,819 shares, compared to its average volume of 1,819,298. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 136.71, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The firm's 50 day moving average price is $89.48 and its 200-day moving average price is $105.53. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is presently 514.75%.

Insider Activity

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction 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 over the last 90 days. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IRM shares. Barclays lowered their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday. They set a "buy" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $121.29.

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.