Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CAO Sells 6,433 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated 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 directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Iron Mountain Trading Up 0.2 %

Shares of NYSE:IRM opened at $88.38 on Thursday. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company’s 50 day moving average is $101.46 and its 200 day moving average is $111.56. The company has a market cap of $25.96 billion, a PE ratio of 144.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company posted $0.52 EPS. Equities research analysts predict 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. Stockholders of record on Monday, March 17th will be paid 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 dividend yield of 3.55%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently made changes to their positions in IRM. Key Financial Inc grew its stake in shares of Iron Mountain by 25,100.0% during the 4th 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 period. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.