New York State Common Retirement Fund Has $17.73 Million Position in Iron Mountain Incorporated (NYSE:IRM)

New York State Common Retirement Fund grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,074 shares of the financial services provider's stock after purchasing an additional 15,600 shares during the period. New York State Common Retirement Fund owned about 0.07% of Iron Mountain worth $17,731,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the first quarter worth about $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $37,000. Franchise Capital Ltd acquired a new stake in Iron Mountain during the 1st quarter valued at $39,000. Finally, Crewe Advisors LLC raised its position in Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the transaction, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. This trade represents a 32.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock worth $23,649,959 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IRM shares. Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, 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 price target on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and an average target price of $121.71.

Iron Mountain Trading Up 0.9%

Iron Mountain stock opened at $98.16 on Thursday. The company has a market cap of $28.96 billion, a PE ratio of 239.42 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. The company's 50-day moving average is $99.89 and its two-hundred day moving average is $95.74.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $1.10 earnings per share. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.20%. Iron Mountain's dividend payout ratio is presently 765.85%.

About Iron Mountain

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.

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