Iron Mountain Incorporated (NYSE:IRM) Director Sells $275,247.20 in Stock

Iron Mountain Incorporated (NYSE:IRM) Director Wendy J. Murdock sold 3,547 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.60, for a total value of $275,247.20. Following the completion of the sale, the director now directly 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 at the SEC website.

Iron Mountain Price Performance

Shares of IRM traded up $0.44 during mid-day trading on Wednesday, hitting $78.04. The company’s stock had a trading volume of 893,537 shares, compared to its average volume of 1,421,338. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The firm 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 firm has a 50-day simple moving average of $78.23 and a 200 day simple moving average of $70.24.

Iron Mountain (NYSE:IRM) last posted its quarterly 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 return on equity of 282.93% and a net margin of 5.45%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.33%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IRM shares. Stifel Nicolaus increased their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. 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 report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. grew its stake in Iron Mountain by 202.1% in the 4th 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. Norges Bank acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $228,391,000. Wellington Management Group LLP lifted its holdings in shares of Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Iron Mountain by 214.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

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.