Iron Mountain Sees Unusually High Options Volume (NYSE:IRM)

Iron Mountain Incorporated (NYSE:IRM) was the recipient of unusually large options trading on Friday. Investors purchased 5,057 put options on the stock. This is an increase of approximately 114% compared to the typical volume of 2,362 put options.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock valued at $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of hedge funds and other institutional investors have recently modified their holdings of IRM. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain during the first quarter valued at approximately $26,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Iron Mountain during the first quarter worth $30,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IRM shares. JPMorgan Chase & Co. cut their price target 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. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Barclays dropped their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. One equities 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $121.29.

Iron Mountain Price Performance

Shares of IRM opened at $95.63 on Friday. The firm has a market capitalization of $28.21 billion, a P/E ratio of 156.76, a PEG ratio of 5.15 and a beta of 0.97. The business has a fifty day moving average of $85.93 and a 200 day moving average of $102.10. Iron Mountain has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion during 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%. Iron Mountain’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. Analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.28%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.