Daniel Borges Sells 6,433 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Iron Mountain Stock Up 0.2 %

Iron Mountain stock opened at $88.38 on Thursday. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 144.88, a PEG ratio of 5.15 and a beta of 1.04. The firm’s fifty day moving average is $101.46 and its 200 day moving average is $111.56. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.55%. Iron Mountain’s payout ratio is 514.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter worth about $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the third quarter worth about $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter worth about $36,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays lowered their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $127.67.

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.