Greg W. Mcintosh Sells 8,398 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Greg W. Mcintosh sold 8,398 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares of the company’s stock, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Iron Mountain Stock Up 1.2%

NYSE IRM traded up $1.15 during trading on Tuesday, hitting $97.36. 1,466,144 shares of the stock traded hands, compared to its average volume of 1,851,872. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a 50-day simple moving average of $89.14 and a 200-day simple moving average of $99.03. The company has a market capitalization of $28.73 billion, a P/E ratio of 159.61, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio is 765.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Exchange Traded Concepts LLC raised 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 during the period. Proficio Capital Partners LLC purchased a new stake in Iron Mountain during the 4th quarter valued at $102,000. U.S. Capital Wealth Advisors LLC lifted its position in Iron Mountain by 1,453.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock worth $11,878,000 after buying an additional 105,726 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Iron Mountain by 36.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 2,768 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in 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 acquiring an additional 4,350 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRM shares. Truist Financial began coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target for the company. Wells Fargo & Company decreased their price objective 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 lifted their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $121.71.

Iron Mountain Company Profile

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.