Public Employees Retirement Association of Colorado Sells 614 Shares of Iron Mountain Incorporated (NYSE:IRM)

Public Employees Retirement Association of Colorado decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 30,171 shares of the financial services provider’s stock after selling 614 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Iron Mountain were worth $2,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Csenge Advisory Group increased its position in Iron Mountain by 1.2% during the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 114 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Iron Mountain by 2.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 117 shares during the period. Perfromance Wealth Partners LLC raised its position in shares of Iron Mountain by 2.4% in the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after buying an additional 118 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after buying an additional 120 shares during the period. Finally, Terra Nova Asset Management LLC grew its position in Iron Mountain by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRM. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. One research 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. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Iron Mountain Stock Performance

Iron Mountain stock opened at $118.42 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a market cap of $34.71 billion, a PE ratio of 179.42, a P/E/G ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $118.74. The business’s 50-day moving average price is $108.68 and its two-hundred day moving average price is $91.58.

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

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 433.33%.

Insider Buying and Selling

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock worth $3,352,406 in the last 90 days. Insiders own 2.10% of the company’s stock.

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.