Iron Mountain Incorporated (NYSE:IRM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,474 shares of the financial services provider's stock after selling 10,204 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Iron Mountain worth $20,021,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Key Financial Inc increased its holdings in shares of 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 purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the 3rd quarter worth $36,000. Dunhill Financial LLC increased its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Iron Mountain by 104.8% in the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider's stock worth $54,000 after acquiring an additional 263 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company's 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 transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,872 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Down 0.2 %

Shares of Iron Mountain stock traded down $0.22 during trading hours on Monday, reaching $91.57. 1,114,640 shares of the company's stock were exchanged, compared to its average volume of 2,098,954. Iron Mountain Incorporated has a 1 year low of $73.45 and a 1 year high of $130.24. The company has a market capitalization of $26.90 billion, a P/E ratio of 150.07, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The business has a fifty day moving average of $103.50 and a two-hundred day moving average of $112.39.

Iron Mountain (NYSE:IRM - Get Free Report) last released 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 business 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 period in the previous year, the company earned $0.52 EPS. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.43%. Iron Mountain's payout ratio is presently 468.85%.

Wall Street Analyst Weigh In

IRM has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.67.

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.