California Public Employees Retirement System Sells 26,931 Shares of Iron Mountain Incorporated (NYSE:IRM)

California Public Employees Retirement System reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,456 shares of the financial services provider’s stock after selling 26,931 shares during the quarter. California Public Employees Retirement System owned 0.17% of Iron Mountain worth $52,182,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IRM. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $26,000. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares during the period. Dunhill Financial LLC boosted its position in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRM. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. 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 report on Tuesday, February 18th. Barclays cut 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. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock worth $30,666,904 over the last three months. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Up 1.0 %

Shares of Iron Mountain stock opened at $86.93 on Wednesday. The company has a 50 day moving average price of $94.03 and a 200 day moving average price of $107.88. The firm has a market capitalization of $25.53 billion, a P/E ratio of 142.50, a PEG 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.

Iron Mountain (NYSE:IRM) last posted 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 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 firm posted $0.52 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.61%. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.