New York State Teachers Retirement System lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,631 shares of the financial services provider's stock after selling 8,557 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Iron Mountain worth $26,554,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock valued at $978,479,000 after acquiring an additional 128,622 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider's stock worth $402,396,000 after purchasing an additional 141,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Captrust Financial Advisors raised its holdings in Iron Mountain by 5.2% in the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider's stock worth $113,073,000 after purchasing an additional 47,327 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Iron Mountain by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider's stock worth $95,726,000 after purchasing an additional 10,160 shares in the last quarter. Institutional investors own 80.13% of the company's stock.
Insider Activity at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 over the last ninety days. Insiders own 2.10% of the company's stock.
Iron Mountain Price Performance
Shares of Iron Mountain stock traded down $1.52 during trading on Wednesday, hitting $92.69. 4,867,829 shares of the company's stock traded hands, compared to its average volume of 2,057,817. Iron Mountain Incorporated has a 1 year low of $67.09 and a 1 year high of $130.24. The stock has a market capitalization of $27.20 billion, a P/E ratio of 151.96, a PEG ratio of 5.25 and a beta of 1.01. The business has a 50-day simple moving average of $104.71 and a 200-day simple moving average of $112.66.
Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 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 business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the business earned $0.52 earnings per share. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Increases Dividend
The firm 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. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.39%. Iron Mountain's dividend payout ratio (DPR) is 468.85%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on IRM shares. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. 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 research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a research note on Tuesday, January 28th. Finally, Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.67.
View Our Latest Stock Report on IRM
About Iron Mountain
(
Free Report)
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.
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