New Mexico Educational Retirement Board Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

New Mexico Educational Retirement Board cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,940 shares of the financial services provider’s stock after selling 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Iron Mountain were worth $1,465,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after acquiring an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Captrust Financial Advisors increased its holdings in Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after acquiring an additional 47,327 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Iron Mountain by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock worth $95,726,000 after acquiring an additional 10,160 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 0.1 %

Shares of IRM opened at $95.34 on Monday. The company has a market cap of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01. The stock has a 50-day moving average price of $105.45 and a 200-day moving average price of $112.85. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter last year, the business posted $0.52 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IRM. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $129.17.

Insider Activity

In related news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by insiders.

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.