Edward Baker-Greene Sells 2,262 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Edward Baker-Greene also recently made the following trade(s):

• On Thursday, June 20th, Edward Baker-Greene sold 6,200 shares of Iron Mountain stock. The stock was sold at an average price of $88.35, for a total transaction of $547,770.00.

Iron Mountain Stock Up 0.7 %

Iron Mountain stock opened at $112.85 on Friday. The business’s 50-day moving average price is $98.06 and its 200 day moving average price is $84.77. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 170.98, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $112.93.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.53%. Iron Mountain’s payout ratio is presently 433.33%.

Analysts Set New Price Targets

IRM has been the topic of several research reports. Wells Fargo & Company upped their target price on Iron Mountain from $110.00 to $120.00 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 research note on Friday, August 2nd. Stifel Nicolaus upped their target price on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds have recently modified their holdings of IRM. Cohen & Steers Inc. increased its stake in shares of 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 purchasing an additional 15,035,937 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $228,391,000. Centersquare Investment Management LLC raised its stake in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares during the period. Legal & General Group Plc lifted its position in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. Finally, AGF Management Ltd. grew its stake in Iron Mountain by 76.3% in the 2nd 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 owned by hedge funds and other 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.