Iron Mountain Incorporated (NYSE:IRM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 554,841 shares of the financial services provider’s stock after selling 23,717 shares during the quarter. California Public Employees Retirement System owned 0.19% of Iron Mountain worth $38,828,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IRM. CWM LLC increased its stake in Iron Mountain by 22.4% in the third quarter. CWM LLC now owns 5,862 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 1,071 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in 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. CX Institutional purchased a new position in Iron Mountain in the third quarter valued at approximately $282,000. Oak Thistle LLC purchased a new position in Iron Mountain in the third quarter valued at approximately $563,000. Finally, Czech National Bank increased its stake in Iron Mountain by 47.8% in the third quarter. Czech National Bank now owns 51,009 shares of the financial services provider’s stock valued at $3,032,000 after purchasing an additional 16,487 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, April 15th. The stock was 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 of the company’s stock, valued at approximately $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction 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 directly owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is owned by company insiders.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $77.52 on Friday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day moving average price of $77.46 and a 200 day moving average price of $69.29. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company has a market cap of $22.72 billion, a PE ratio of 123.05, a P/E/G ratio of 4.62 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business posted $0.98 EPS. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

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

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.