Kentucky Retirement Systems Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Kentucky Retirement Systems lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,158 shares of the financial services provider’s stock after selling 277 shares during the period. Kentucky Retirement Systems’ holdings in Iron Mountain were worth $2,119,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. OneDigital Investment Advisors LLC increased its stake in shares of Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 89 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of 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 worth $1,351,000 after purchasing an additional 92 shares during the last quarter. Geller Advisors LLC increased its stake in shares of Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the last quarter. Claro Advisors LLC grew its stake in Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after buying an additional 103 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $91.77 on Friday. The company has a fifty day moving average price of $103.50 and a 200-day moving average price of $112.34. The firm has a market capitalization of $26.96 billion, a P/E ratio of 150.44, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a one year low of $70.00 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the firm earned $0.52 earnings per share. On average, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business 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 dividend of $0.785 per share. This is an increase 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 3.42%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 468.85%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on shares of 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. reduced 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 note on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on 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 sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,391 shares of company stock valued at $16,805,912. Insiders own 2.10% of the company’s stock.

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.