Employees Retirement System of Texas Acquires 29,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

Employees Retirement System of Texas boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 28.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,500 shares of the financial services provider’s stock after buying an additional 29,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Iron Mountain were worth $13,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. Key Financial Inc increased its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter valued at approximately $53,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Down 7.0 %

NYSE IRM opened at $77.31 on Monday. The firm has a market cap of $22.71 billion, a PE ratio of 126.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The company has a 50 day moving average price of $92.35 and a 200 day moving average price of $107.17.

Iron Mountain (NYSE:IRM) last released its 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock valued at $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IRM shares. Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $125.67.

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.