Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CAO Sells 6,433 Shares of Stock

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

Iron Mountain Price Performance

Shares of NYSE:IRM traded down $1.93 during trading on Tuesday, hitting $88.28. The company’s stock had a trading volume of 2,666,684 shares, compared to its average volume of 2,151,603. The company has a 50-day moving average of $101.46 and a 200-day moving average of $111.56. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 144.72, a P/E/G ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Key Financial Inc grew its holdings 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 buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter valued at approximately $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the 3rd quarter valued at approximately $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $127.67.

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.