Retirement Systems of Alabama Sells 1,638 Shares of Iron Mountain Incorporated (NYSE:IRM)

Retirement Systems of Alabama trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,324 shares of the financial services provider’s stock after selling 1,638 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of Iron Mountain worth $16,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 156 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Iron Mountain by 17.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 171 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 177 shares during the period. Federated Hermes Inc. grew its stake in shares of Iron Mountain by 4.0% in the 4th 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 period. Finally, Aspire Private Capital LLC boosted its holdings in shares of Iron Mountain by 2.1% in the 3rd quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 188 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 4,458 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

IRM opened at $77.52 on Wednesday. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19. The firm has a market capitalization of $22.72 billion, a PE ratio of 123.05, a PEG ratio of 4.67 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50-day simple moving average is $77.66 and its 200 day simple moving average is $69.54.

Iron Mountain (NYSE:IRM) last announced its quarterly 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). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. Iron Mountain’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

About Iron Mountain

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.