Insider Selling: Iron Mountain Incorporated (NYSE:IRM) EVP Sells 8,263 Shares of Stock

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

Iron Mountain Stock Performance

Shares of IRM stock traded down $0.46 on Thursday, hitting $105.12. 52,936 shares of the stock were exchanged, compared to its average volume of 1,608,348. Iron Mountain Incorporated has a one year low of $64.68 and a one year high of $130.24. The firm’s 50 day moving average is $117.89 and its two-hundred day moving average is $109.84. The firm has a market capitalization of $30.85 billion, a PE ratio of 292.01, a P/E/G ratio of 6.77 and a beta of 0.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.72%. Iron Mountain’s payout ratio is 794.44%.

Analysts Set New Price Targets

Several research firms have commented on IRM. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average price target of $131.00.

Institutional Trading of Iron Mountain

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth about $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the third quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain in the third quarter worth about $36,000. Dunhill Financial LLC boosted its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP grew its stake in Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.