New York State Common Retirement Fund Sells 23,787 Shares of Iron Mountain Incorporated (NYSE:IRM)

New York State Common Retirement Fund lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,853 shares of the financial services provider’s stock after selling 23,787 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Iron Mountain worth $20,494,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in Iron Mountain by 1.7% in the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after buying an additional 156 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Iron Mountain by 17.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after buying an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Iron Mountain by 2.8% in the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after buying an additional 177 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Iron Mountain by 4.0% in the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 179 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Iron Mountain by 4.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IRM shares. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Barclays lifted their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Price Performance

Shares of IRM opened at $77.52 on Friday. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 123.05, a PEG ratio of 4.64 and a beta of 0.94. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company’s fifty day simple moving average is $77.46 and its 200 day simple moving average is $69.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Iron Mountain’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock worth $12,698,221 in the last quarter. 2.20% of the stock is owned by insiders.

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.