Kentucky Retirement Systems Sells 277 Shares of Iron Mountain Incorporated (NYSE:IRM)

Kentucky Retirement Systems cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,158 shares of the financial services provider’s stock after selling 277 shares during the period. Kentucky Retirement Systems’ holdings in Iron Mountain were worth $2,119,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Trinity Legacy Partners LLC increased its position in shares of Iron Mountain by 4.8% in the fourth quarter. Trinity Legacy Partners LLC now owns 44,469 shares of the financial services provider’s stock valued at $4,674,000 after acquiring an additional 2,039 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Iron Mountain by 3.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 6,393 shares of the financial services provider’s stock valued at $672,000 after acquiring an additional 218 shares during the period. Handelsbanken Fonder AB increased its position in shares of Iron Mountain by 1.2% in the fourth quarter. Handelsbanken Fonder AB now owns 209,970 shares of the financial services provider’s stock valued at $22,070,000 after acquiring an additional 2,425 shares during the period. WealthBridge Capital Management LLC increased its position in shares of Iron Mountain by 2.5% in the fourth quarter. WealthBridge Capital Management LLC now owns 13,181 shares of the financial services provider’s stock valued at $1,385,000 after acquiring an additional 322 shares during the period. Finally, Financial Sense Advisors Inc. purchased a new position in shares of Iron Mountain in the fourth quarter valued at about $233,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IRM. Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. 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 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $91.77 on Friday. The stock has a market capitalization of $26.96 billion, a P/E ratio of 150.44, a P/E/G ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 1 year low of $70.00 and a 1 year high of $130.24. The company’s 50-day moving average is $103.50 and its 200 day moving average is $112.34.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the company posted $0.52 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 468.85%.

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.