Iron Mountain (NYSE:IRM) Hits New 12-Month High at $92.81

Shares of Iron Mountain Incorporated (NYSE:IRM) hit a new 52-week high on Monday . The company traded as high as $92.81 and last traded at $92.67, with a volume of 793451 shares changing hands. The stock had previously closed at $91.60.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IRM shares. Wells Fargo & Company lifted their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. The Goldman Sachs Group boosted their target price on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.83.

Iron Mountain Price Performance

The company has a 50 day moving average price of $84.61 and a 200-day moving average price of $77.31. The company has a market cap of $27.90 billion, a price-to-earnings ratio of 144.20, a P/E/G ratio of 5.50 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the sale, the chief operating officer now directly owns 20,366 shares in the company, valued at approximately $1,807,686.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $22,670,442. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,928 shares of company stock worth $9,726,673. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Several large investors have recently modified their holdings of the stock. Csenge Advisory Group grew its stake in Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 114 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 120 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in Iron Mountain by 1.1% during the first quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after buying an additional 122 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Iron Mountain by 1.6% in the first quarter. Checchi Capital Advisers LLC now owns 9,097 shares of the financial services provider’s stock valued at $730,000 after buying an additional 146 shares in the last quarter. Finally, Chesley Taft & Associates LLC grew its holdings in shares of Iron Mountain by 1.0% during the first quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.13% 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.