Iron Mountain (NYSE:IRM) Shares Down 2.7% Following Insider Selling

Iron Mountain Incorporated (NYSE:IRM) was down 2.7% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $113.15 and last traded at $113.32. Approximately 659,175 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,624,280 shares. The stock had previously closed at $116.45.

Specifically, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction 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 completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company boosted their price objective on shares of 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 increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.83.

Iron Mountain Trading Down 2.7 %

The business’s 50-day moving average is $107.49 and its 200 day moving average is $90.73. The firm has a market capitalization of $33.22 billion, a P/E ratio of 175.47, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.52%. 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 433.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Iron Mountain by 2.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after acquiring an additional 7,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the period. Finally, Centersquare Investment Management LLC increased its stake in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares in the last quarter. 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.