Teachers Retirement System of The State of Kentucky Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Teachers Retirement System of The State of Kentucky cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,186 shares of the financial services provider’s stock after selling 634 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Iron Mountain were worth $2,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Csenge Advisory Group lifted its position in shares of Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 114 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Iron Mountain by 2.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 117 shares in the last quarter. Perfromance Wealth Partners LLC increased its holdings in shares of Iron Mountain by 2.4% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 118 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Iron Mountain by 9.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 120 shares in the last quarter. Finally, Terra Nova Asset Management LLC lifted its stake in shares of Iron Mountain by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after purchasing an additional 120 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $27,078,583.50. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last three months. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRM. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price 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, Stifel Nicolaus lifted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Iron Mountain Trading Down 0.1 %

Iron Mountain stock opened at $118.28 on Friday. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $120.54. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock’s 50 day simple moving average is $111.82 and its two-hundred day simple moving average is $93.55. The firm has a market cap of $34.67 billion, a PE ratio of 179.21, a P/E/G ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a $0.715 dividend. The ex-dividend date was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. Iron Mountain’s payout ratio is 433.33%.

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.