Short Interest in Iron Mountain Incorporated (NYSE:IRM) Drops By 5.4%

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 7,540,000 shares, a decline of 5.4% from the December 15th total of 7,970,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is presently 4.7 days.

Iron Mountain Trading Down 1.0 %

Shares of NYSE:IRM opened at $109.19 on Monday. The stock has a market capitalization of $32.04 billion, a PE ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02. Iron Mountain has a 1 year low of $65.01 and a 1 year high of $130.24. The firm has a fifty day moving average price of $111.35 and a 200 day moving average price of $111.88.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.47%.

Analyst Ratings Changes

A number of equities research analysts have commented on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and a consensus price target of $131.00.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the period. Legal & General Group Plc boosted its stake in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.