New York State Common Retirement Fund Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

New York State Common Retirement Fund decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.06% of Iron Mountain worth $20,021,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Iron Mountain in the third quarter valued at about $87,000. International Assets Investment Management LLC increased its position in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after acquiring an additional 445,207 shares during the period. Assenagon Asset Management S.A. raised its stake in Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $214,000. Finally, Ballentine Partners LLC grew its stake in shares of Iron Mountain by 16.9% in the 3rd quarter. Ballentine Partners LLC now owns 5,393 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 779 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.9 %

NYSE:IRM opened at $91.77 on Friday. The firm’s fifty day simple moving average is $103.50 and its 200-day simple moving average is $112.34. The stock has a market cap of $26.96 billion, a PE ratio of 150.44, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a fifty-two week low of $70.00 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 468.85%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction 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 trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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. Over the last ninety days, insiders sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Barclays cut their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company dropped their price target on shares of 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 downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One investment 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. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.