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

California State Teachers Retirement System decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 434,493 shares of the financial services provider’s stock after selling 35,848 shares during the quarter. California State Teachers Retirement System’s holdings in Iron Mountain were worth $45,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IRM. Oregon Public Employees Retirement Fund raised its holdings in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after acquiring an additional 100 shares in the last quarter. Belpointe Asset Management LLC increased its position in Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 112 shares during the last quarter. Mather Group LLC. increased its position in Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 113 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in shares of Iron Mountain by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider’s stock worth $2,214,000 after purchasing an additional 114 shares in the last quarter. Finally, One Charles Private Wealth Services LLC lifted its holdings in shares of Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock valued at $1,236,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. 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 initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company decreased their price objective 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. Finally, Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday. 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. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $121.71.

Iron Mountain Trading Up 1.2%

NYSE:IRM opened at $97.36 on Wednesday. The firm has a market capitalization of $28.73 billion, a PE 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 firm’s fifty day simple moving average is $89.32 and its 200 day simple moving average is $99.02.

Iron Mountain (NYSE:IRM) last released its quarterly 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. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid 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 3.23%. Iron Mountain’s payout ratio is 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 8,398 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the sale, the executive vice president now owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. 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.

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.