Iron Mountain Incorporated (NYSE:IRM) Sees Large Decrease in Short Interest

Iron Mountain Incorporated (NYSE:IRM) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 8,350,000 shares, a decline of 9.9% from the October 31st total of 9,270,000 shares. Based on an average daily volume of 1,450,000 shares, the short-interest ratio is presently 5.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $131.00.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the 3rd quarter worth $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the second quarter worth about $32,000. West Branch Capital LLC bought a new position in Iron Mountain during the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain during the 2nd quarter valued at about $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $36,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 1.1 %

Shares of IRM traded down $1.36 during midday trading on Tuesday, hitting $120.23. The stock had a trading volume of 2,275,232 shares, compared to its average volume of 1,591,721. The firm has a market cap of $35.28 billion, a PE ratio of 333.79, a price-to-earnings-growth ratio of 7.27 and a beta of 0.98. Iron Mountain has a 1 year low of $64.66 and a 1 year high of $130.24. The stock’s 50 day moving average is $120.65 and its 200 day moving average is $106.47. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.38%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

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.