Public Employees Retirement System of Ohio Has $10.74 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Public Employees Retirement System of Ohio lessened its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,163 shares of the financial services provider's stock after selling 6,683 shares during the period. Public Employees Retirement System of Ohio's holdings in Iron Mountain were worth $10,738,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in shares of Iron Mountain by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider's stock valued at $9,708,000 after buying an additional 4,350 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after acquiring an additional 5,511 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Iron Mountain by 12.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 8,906 shares of the financial services provider's stock worth $936,000 after acquiring an additional 977 shares in the last quarter. Crescent Grove Advisors LLC raised its position in shares of Iron Mountain by 1.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 13,054 shares of the financial services provider's stock worth $1,381,000 after purchasing an additional 211 shares during the period. Finally, Strategic Investment Advisors MI lifted its holdings in shares of Iron Mountain by 2.5% during the 4th quarter. Strategic Investment Advisors MI now owns 10,345 shares of the financial services provider's stock valued at $1,087,000 after purchasing an additional 255 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Greg W. Mcintosh sold 8,398 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at approximately $6,740,759.96. The trade was a 10.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on 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 sale, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This represents a 11.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,371 shares of company stock valued at $29,919,729 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on IRM. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Barclays raised their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Stock Up 1.2%

IRM traded up $1.15 during trading hours on Tuesday, hitting $97.36. 1,466,153 shares of the company's stock were exchanged, compared to its average volume of 1,851,872. The stock has a market cap of $28.73 billion, a price-to-earnings ratio of 159.61, 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. The stock's 50-day moving average is $89.32 and its two-hundred day moving average is $99.02.

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

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. Iron Mountain's dividend payout ratio is 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.