California State Teachers Retirement System Sells 11,234 Shares of Iron Mountain Incorporated $IRM

California State Teachers Retirement System decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,871 shares of the financial services provider’s stock after selling 11,234 shares during the period. California State Teachers Retirement System owned 0.14% of Iron Mountain worth $43,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IRM. Garton & Associates Financial Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at $25,000. Beaird Harris Wealth Management LLC grew its holdings in Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 350 shares during the period. Dynamic Wealth Strategies LLC acquired a new stake in Iron Mountain during the 1st quarter worth about $31,000. Johnson Financial Group Inc. bought a new position in shares of Iron Mountain in the 3rd quarter worth about $32,000. Finally, Bayban bought a new position in shares of Iron Mountain in the 4th quarter worth about $33,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on IRM shares. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Truist Financial set a $140.00 price target on shares of Iron Mountain in a report on Friday, May 1st. Barclays lifted their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Iron Mountain Stock Down 1.9%

IRM opened at $122.21 on Friday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The company’s 50-day moving average price is $125.17 and its two-hundred day moving average price is $113.76. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 134.30 and a beta of 1.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $1.17 EPS. Iron Mountain’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,725,761.42. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $127.91, for a total transaction of $767,460.00. Following the transaction, the executive vice president directly owned 119,507 shares in the company, valued at $15,286,140.37. This trade represents a 4.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,260 shares of company stock valued at $17,361,672 over the last 90 days. Insiders own 1.70% of the company’s stock.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.