Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1,736.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 36,049 shares of the financial services provider’s stock after buying an additional 34,086 shares during the period. Teacher Retirement System of Texas’ holdings in Iron Mountain were worth $3,789,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain during the 4th quarter worth $26,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the third quarter worth $36,000. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain in the fourth quarter valued at $53,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada raised their price target 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. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and an average price target of $125.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,979 shares of company stock valued at $30,666,904 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $90.14 on Tuesday. The business has a 50 day moving average price of $96.65 and a two-hundred day moving average price of $109.03. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 147.77, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 company earned $0.52 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.