Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CAO Sells $597,239.72 in Stock

Iron Mountain Incorporated (NYSE:IRM) CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Iron Mountain Stock Down 6.3 %

Shares of NYSE:IRM opened at $82.77 on Friday. The business has a fifty day moving average of $101.12 and a two-hundred day moving average of $111.40. The stock has a market cap of $24.31 billion, a P/E ratio of 135.68, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for 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 quarter in the prior year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.79%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently modified their holdings of the business. Comprehensive Money Management Services LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth $1,499,000. Park Square Financial Group LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth $314,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Iron Mountain during the 4th quarter worth $39,687,000. Employees Retirement System of Texas lifted its stake in Iron Mountain by 28.6% during the 4th quarter. Employees Retirement System of Texas now owns 130,500 shares of the financial services provider’s stock worth $13,717,000 after acquiring an additional 29,000 shares in the last quarter. Finally, Polar Asset Management Partners Inc. lifted its stake in Iron Mountain by 227.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 141,500 shares of the financial services provider’s stock worth $14,873,000 after acquiring an additional 98,300 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on IRM shares. Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.