Short Interest in Iron Mountain Incorporated (NYSE:IRM) Decreases By 13.7%

Iron Mountain Incorporated (NYSE:IRM) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 9,920,000 shares, a decrease of 13.7% from the August 15th total of 11,490,000 shares. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is presently 4.9 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRM. Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Stock Up 0.5 %

Shares of Iron Mountain stock traded up $0.53 during trading hours on Wednesday, hitting $116.45. The company had a trading volume of 1,282,446 shares, compared to its average volume of 1,629,640. The company’s 50-day moving average is $107.06 and its two-hundred day moving average is $90.55. Iron Mountain has a twelve month low of $56.51 and a twelve month high of $118.46. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $34.14 billion, a P/E ratio of 176.44, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Iron Mountain will post 4.17 earnings per share for the current fiscal 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 paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.46%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Insiders Place Their Bets

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The disclosure for this sale can be found here. Insiders have sold 74,287 shares of company stock worth $7,014,232 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Large investors have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter worth $32,000. Transcendent Capital Group LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at about $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain during the 4th quarter valued at approximately $38,000. Finally, Headlands Technologies LLC purchased a new stake in Iron Mountain during the 1st quarter valued at approximately $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

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.