New York State Teachers Retirement System Has $19.60 Million Position in Iron Mountain Incorporated (NYSE:IRM)

New York State Teachers Retirement System lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,739 shares of the financial services provider's stock after selling 24,892 shares during the period. New York State Teachers Retirement System owned 0.08% of Iron Mountain worth $19,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Iron Mountain during the 4th quarter worth $102,000. Fisher Asset Management LLC acquired a new stake in shares of Iron Mountain during the fourth quarter valued at $587,000. Smartleaf Asset Management LLC grew its holdings in shares of Iron Mountain by 8.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,793 shares of the financial services provider's stock worth $186,000 after buying an additional 147 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Iron Mountain by 281.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 930 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 686 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Iron Mountain by 153.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,118 shares of the financial services provider's stock worth $748,000 after buying an additional 4,310 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.9%

NYSE IRM traded up $1.92 during trading hours on Friday, reaching $101.53. The company's stock had a trading volume of 914,630 shares, compared to its average volume of 1,798,234. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market cap of $29.95 billion, a PE ratio of 247.62 and a beta of 1.08. The business has a 50-day simple moving average of $99.01 and a 200 day simple moving average of $96.07.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business posted $1.10 EPS. Iron Mountain's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were paid a dividend of $0.785 per share. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.09%. Iron Mountain's payout ratio is 765.85%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays lifted their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $121.71.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the transaction, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock worth $23,649,959 in the last three months. 1.90% of the stock is currently owned by company insiders.

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.