Public Employees Retirement Association of Colorado Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Public Employees Retirement Association of Colorado reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,171 shares of the financial services provider’s stock after selling 614 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Iron Mountain were worth $2,704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain in the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in Iron Mountain during the fourth quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain in the fourth quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.7 %

Shares of IRM stock opened at $118.42 on Tuesday. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $118.74. The stock has a market cap of $34.71 billion, a P/E ratio of 179.42, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a fifty day moving average price of $108.68 and a 200 day moving average price of $91.58.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company posted $0.94 earnings per share. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock valued at $3,352,406 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Iron Mountain 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.