Iron Mountain Incorporated (NYSE:IRM) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,493 shares of the financial services provider's stock after selling 35,848 shares during the period. California State Teachers Retirement System owned 0.15% of Iron Mountain worth $45,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IRM. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth $26,000. Key Financial Inc boosted its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter worth $53,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,371 shares of company stock worth $29,919,729. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded up $0.83 during trading hours on Friday, reaching $98.63. The company's stock had a trading volume of 4,731,334 shares, compared to its average volume of 1,867,659. The firm has a 50 day moving average price of $89.88 and a 200-day moving average price of $98.76. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock has a market cap of $29.10 billion, a P/E ratio of 161.69, a P/E/G ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

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

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.