Teacher Retirement System of Texas Sells 13,216 Shares of Iron Mountain Incorporated $IRM

Teacher Retirement System of Texas trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,608 shares of the financial services provider’s stock after selling 13,216 shares during the period. Teacher Retirement System of Texas’ holdings in Iron Mountain were worth $4,575,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the first quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the first quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain during the first quarter valued at about $34,000. Wayfinding Financial LLC bought a new stake in Iron Mountain during the first quarter valued at about $37,000. Finally, Richards Merrill & Peterson Inc. bought a new stake in Iron Mountain during the first quarter valued at about $43,000. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IRM has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Iron Mountain Stock Up 1.8%

NYSE:IRM opened at $103.12 on Friday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $127.29. The firm has a market capitalization of $30.46 billion, a PE ratio of 736.60 and a beta of 1.06. The firm has a 50-day moving average price of $100.12 and a 200 day moving average price of $97.66.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. 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 dividend payout ratio is 2,242.86%.

Insider Activity

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