Iron Mountain Incorporated (NYSE:IRM) CAO Daniel Borges Sells 6,433 Shares

Iron Mountain Incorporated (NYSE:IRM) CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Iron Mountain Stock Down 2.1 %

Shares of Iron Mountain stock traded down $1.93 during trading on Tuesday, hitting $88.28. 2,666,684 shares of the stock traded hands, compared to its average volume of 2,151,603. The firm’s fifty day moving average is $101.46 and its 200-day moving average is $111.56. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 144.72, a PEG ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Barclays lowered their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $127.67.

Institutional Investors Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the 4th quarter valued at $26,000. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the 3rd quarter valued at $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the 3rd quarter valued at $36,000. 80.13% of the stock is currently owned by institutional investors.

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.