Iron Mountain Incorporated $IRM Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,012 shares of the financial services provider’s stock after buying an additional 272 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Iron Mountain were worth $9,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its position in Iron Mountain by 3.4% during the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock worth $281,000 after buying an additional 108 shares in the last quarter. Cooper Financial Group boosted its position in shares of Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 113 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares during the period. Diversify Advisory Services LLC raised its stake in Iron Mountain by 1.9% during the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 123 shares during the period. Finally, NorthRock Partners LLC boosted its holdings in Iron Mountain by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 131 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $105.34 on Friday. The company has a market capitalization of $31.11 billion, a P/E ratio of 752.50 and a beta of 1.06. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company’s fifty day moving average is $98.96 and its two-hundred day moving average is $96.98.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Saturday. Finally, Jefferies Financial Group started coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

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.