Insider Selling: Iron Mountain Incorporated (NYSE:IRM) EVP Sells $807,383.72 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Greg W. Mcintosh sold 8,398 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the completion of the sale, the executive vice president now owns 70,114 shares of the company’s stock, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Iron Mountain Trading Up 0.5%

Shares of Iron Mountain stock opened at $97.76 on Friday. The firm has a market cap of $28.84 billion, a P/E ratio of 160.26, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock’s fifty day moving average price is $89.66 and its 200-day moving average price is $98.87.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.21%. Iron Mountain’s dividend payout ratio is currently 765.85%.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors have recently made changes to their positions in IRM. Janney Montgomery Scott LLC increased its stake in shares of Iron Mountain by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock valued at $9,708,000 after buying an additional 4,350 shares during the period. Exchange Traded Concepts LLC boosted its position in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,511 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in Iron Mountain by 12.3% during the fourth quarter. Flagship Harbor Advisors LLC now owns 8,906 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 977 shares in the last quarter. Strategic Investment Advisors MI boosted its position in Iron Mountain by 2.5% during the fourth quarter. Strategic Investment Advisors MI now owns 10,345 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 255 shares in the last quarter. Finally, PFG Investments LLC boosted its position in Iron Mountain by 4.6% during the fourth quarter. PFG Investments LLC now owns 25,602 shares of the financial services provider’s stock valued at $2,691,000 after purchasing an additional 1,130 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRM. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target for the company. Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays increased their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $121.71.

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.