Iron Mountain Incorporated (NYSE:IRM) Stock Position Increased by Arizona State Retirement System

Arizona State Retirement System grew its position in Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,512 shares of the financial services provider’s stock after purchasing an additional 201 shares during the period. Arizona State Retirement System’s holdings in Iron Mountain were worth $7,215,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the second quarter valued at about $36,000. Heritage Wealth Advisors acquired a new stake in Iron Mountain in the fourth quarter worth about $38,000. Finally, Headlands Technologies LLC bought a new position in Iron Mountain in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.4 %

Shares of NYSE:IRM opened at $109.48 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 165.88, a PEG ratio of 6.78 and a beta of 1.00. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $114.93. The company has a 50 day moving average price of $103.77 and a 200 day moving average price of $88.48.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 35,084 shares of Iron Mountain stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the transaction, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the sale, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,805 shares of company stock valued at $7,510,750. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on IRM. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

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.