Iron Mountain Incorporated (NYSE:IRM) Director Wendy J. Murdock Sells 8,500 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The sale was disclosed in a filing with the SEC, which is available through this link.

Iron Mountain Stock Performance

NYSE IRM opened at $116.45 on Thursday. The firm has a market capitalization of $34.14 billion, a P/E ratio of 176.44, a PEG ratio of 6.85 and a beta of 1.00. The stock has a 50-day simple moving average of $107.06 and a two-hundred day simple moving average of $90.55. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $118.46.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Newbridge Financial Services Group Inc. lifted its position in shares of Iron Mountain by 149.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,746 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 1,045 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Iron Mountain during the 2nd quarter worth approximately $3,005,000. EP Wealth Advisors LLC increased its holdings in shares of Iron Mountain by 12.2% in the second quarter. EP Wealth Advisors LLC now owns 14,558 shares of the financial services provider’s stock valued at $1,305,000 after purchasing an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Iron Mountain by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 52,094 shares of the financial services provider’s stock valued at $4,669,000 after buying an additional 1,213 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Iron Mountain by 49.7% during the second quarter. NewEdge Advisors LLC now owns 44,040 shares of the financial services provider’s stock worth $3,947,000 after acquiring an additional 14,625 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group increased 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 increased their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. 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 report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.83.

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.