Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava Sells 8,263 Shares

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Iron Mountain Price Performance

Iron Mountain stock opened at $105.73 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50 day simple moving average of $117.52 and a 200-day simple moving average of $109.81. Iron Mountain Incorporated has a 12 month low of $64.68 and a 12 month high of $130.24. The stock has a market capitalization of $31.03 billion, a PE ratio of 293.70, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Iron Mountain by 3.4% in the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock valued at $41,882,000 after purchasing an additional 11,685 shares during the period. IMS Capital Management acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $214,000. Lord Abbett & CO. LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at approximately $24,122,000. Oddo BHF Asset Management Sas acquired a new position in Iron Mountain during the third quarter worth $10,206,000. Finally, Tidal Investments LLC raised its position in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IRM shares. Barclays cut their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company raised their target price 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. 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, the company has a consensus rating of “Buy” and an average target price of $131.00.

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.