Insider Selling: Iron Mountain Incorporated (NYSE:IRM) Director Sells 3,547 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) Director Wendy J. Murdock sold 3,547 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total value of $275,247.20. Following the transaction, the director now owns 20,944 shares of the company’s stock, valued at $1,625,254.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $0.44 during midday trading on Wednesday, reaching $78.04. The company’s stock had a trading volume of 893,537 shares, compared to its average volume of 1,421,338. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The company has a market capitalization of $22.88 billion, a P/E ratio of 117.62, a P/E/G ratio of 4.51 and a beta of 0.96. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The business’s fifty day simple moving average is $78.23 and its 200-day simple moving average is $70.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is 393.95%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IRM shares. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price objective on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its holdings in Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the last quarter. Deutsche Bank AG boosted its holdings in Iron Mountain by 0.7% in the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after acquiring an additional 29,683 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after acquiring an additional 475,849 shares during the last quarter. Northern Trust Corp boosted its holdings in Iron Mountain by 1.2% in the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock valued at $232,677,000 after acquiring an additional 47,902 shares during the last quarter. Finally, Norges Bank bought a new position in Iron Mountain in the fourth quarter valued at about $228,391,000. Institutional investors 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.