State of New Jersey Common Pension Fund D Has $8.32 Million Position in Iron Mountain Incorporated $IRM

State of New Jersey Common Pension Fund D trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 8.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 96,740 shares of the financial services provider’s stock after selling 9,342 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Iron Mountain were worth $8,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IRM. Whittier Trust Co. boosted its holdings in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares during the period. DoubleLine ETF Adviser LP increased its position 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. Stratos Wealth Partners LTD. raised its stake in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 118 shares during the last quarter. Diversify Advisory Services LLC raised its position in Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 123 shares during the last quarter. Finally, NorthRock Partners LLC raised its holdings in shares of Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after buying an additional 131 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $91.47 on Monday. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 653.40 and a beta of 1.07. The stock’s 50-day moving average is $98.61 and its 200-day moving average is $94.13. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Insiders Place Their Bets

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares of the company’s stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. In the last three months, insiders sold 240,007 shares of company stock valued at $23,543,507. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several research reports. Barclays upped their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $120.00.

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.