Teachers Retirement System of The State of Kentucky Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,819 shares of the financial services provider’s stock after selling 1,367 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Iron Mountain were worth $2,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter worth about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain in the third quarter worth approximately $36,000. Dunhill Financial LLC grew its holdings in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the last quarter. Finally, Quarry LP increased its position in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRM. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays dropped their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $131.00.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,997 shares of company stock valued at $8,406,961. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

NYSE IRM opened at $111.90 on Monday. The business’s fifty day moving average is $120.18 and its 200 day moving average is $108.69. Iron Mountain Incorporated has a fifty-two week low of $64.68 and a fifty-two week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $32.84 billion, a PE ratio of 310.83, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.44%.

Iron Mountain Company 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.