Iron Mountain (NYSE:IRM) Reaches New 52-Week High at $115.43

Shares of Iron Mountain Incorporated (NYSE:IRM) reached a new 52-week high on Thursday . The company traded as high as $115.43 and last traded at $115.40, with a volume of 42859 shares. The stock had previously closed at $114.16.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IRM shares. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Trading Up 0.9 %

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $33.84 billion, a PE ratio of 173.30, a P/E/G ratio of 6.56 and a beta of 1.00. The business’s fifty day moving average is $105.10 and its 200-day moving average is $89.34.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Baker-Greene sold 6,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00. Following the completion of the sale, the executive vice president now owns 11,311 shares in the company, valued at approximately $999,326.85. The disclosure for this sale can be found here. In the last three months, insiders sold 68,882 shares of company stock valued at $6,293,740. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. grew its holdings in shares of Iron Mountain by 202.1% during 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 purchasing an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares during the last quarter. Legal & General Group Plc increased its position in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares during the period. Norges Bank bought a new stake in Iron Mountain in the fourth quarter valued at $228,391,000. Finally, AGF Management Ltd. boosted its holdings in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares during the period. 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.