Iron Mountain Incorporated $IRM Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,245 shares of the financial services provider’s stock after selling 757 shares during the quarter. Retirement Systems of Alabama owned 0.08% of Iron Mountain worth $23,719,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IRM. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the first quarter worth approximately $30,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain during the first quarter worth approximately $34,000. Wayfinding Financial LLC bought a new stake in Iron Mountain during the first quarter worth approximately $37,000. Finally, Richards Merrill & Peterson Inc. bought a new stake in Iron Mountain during the first quarter worth approximately $43,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 144,250 shares of company stock worth $13,811,388. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 1.8%

Shares of NYSE IRM opened at $103.12 on Friday. The stock’s fifty day simple moving average is $100.12 and its 200 day simple moving average is $97.66. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $127.29. The stock has a market capitalization of $30.46 billion, a price-to-earnings ratio of 736.60 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $1.08 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is 2,242.86%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain 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.