Teacher Retirement System of Texas Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Teacher Retirement System of Texas lifted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1,736.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,049 shares of the financial services provider's stock after buying an additional 34,086 shares during the period. Teacher Retirement System of Texas' holdings in Iron Mountain were worth $3,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Merit Financial Group LLC lifted its holdings in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC boosted its holdings in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock valued at $2,440,000 after acquiring an additional 14,737 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Iron Mountain in the third quarter worth $24,122,000. Finally, World Investment Advisors LLC bought a new stake in shares of Iron Mountain during the third quarter worth $554,000. Institutional investors own 80.13% of the company's stock.

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Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,979 shares of company stock valued at $30,666,904. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded down $0.44 during midday trading on Friday, hitting $85.07. 1,293,278 shares of the company traded hands, compared to its average volume of 1,761,850. The company has a market cap of $24.99 billion, a PE ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The company's 50-day simple moving average is $95.45 and its 200-day simple moving average is $108.57.

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 the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the firm earned $0.52 EPS. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IRM. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and an average price target of $125.67.

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.