Strs Ohio Buys Shares of 190,800 Iron Mountain Incorporated $IRM

Strs Ohio bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 190,800 shares of the financial services provider’s stock, valued at approximately $16,416,000. Strs Ohio owned about 0.06% of Iron Mountain at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $37,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value 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. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold a total of 236,709 shares of company stock valued at $22,555,809 in the last three months. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IRM shares. Barclays lifted their price target on 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. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $120.17.

Iron Mountain Stock Performance

IRM opened at $96.82 on Friday. The business’s fifty day moving average is $94.93 and its two-hundred day moving average is $93.37. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 691.64 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

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

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s payout ratio is presently 2,242.86%.

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.