California State Teachers Retirement System Has $45.67 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

California State Teachers Retirement System reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 434,493 shares of the financial services provider's stock after selling 35,848 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Iron Mountain worth $45,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the fourth quarter worth $26,000. Key Financial Inc increased its stake in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at approximately $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.8%

Shares of NYSE IRM traded up $0.83 during mid-day trading on Friday, hitting $98.63. 4,731,334 shares of the company traded hands, compared to its average volume of 1,865,747. The business has a 50 day moving average of $89.88 and a two-hundred day moving average of $98.54. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 161.69, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is 765.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRM. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Wells Fargo & Company dropped their target price 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. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Barclays boosted their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $121.71.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the firm's 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 owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 327,371 shares of company stock valued at $29,919,729. Insiders own 2.10% of the company's stock.

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.