Mark Kidd Sells 7,306 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mark Kidd sold 7,306 shares of Iron Mountain stock in a transaction on Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the sale, the executive vice president owned 73,081 shares in the company, valued at $7,368,026.42. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Kidd also recently made the following trade(s):

• On Tuesday, September 2nd, Mark Kidd sold 6,000 shares of Iron Mountain stock. The stock was sold at an average price of $91.05, for a total value of $546,300.00.

Iron Mountain Stock Up 0.7%

Iron Mountain stock traded up $0.74 during midday trading on Monday, reaching $103.69. The stock had a trading volume of 1,440,155 shares, compared to its average volume of 1,713,563. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $125.88. The firm’s 50-day moving average price is $100.12 and its 200 day moving average price is $97.87. The firm has a market capitalization of $30.62 billion, a PE ratio of 740.70 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is presently 2,242.86%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent analyst reports. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Barclays boosted their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Institutional Trading of Iron Mountain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in Iron Mountain in the first quarter worth $30,000. Vontobel Holding Ltd. grew its stake in Iron Mountain by 150.4% in the first quarter. Vontobel Holding Ltd. now owns 11,687 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 7,019 shares during the period. Teacher Retirement System of Texas grew its stake in Iron Mountain by 60.4% in the first quarter. Teacher Retirement System of Texas now owns 57,824 shares of the financial services provider’s stock worth $4,975,000 after purchasing an additional 21,775 shares during the period. Principal Financial Group Inc. grew its stake in Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after purchasing an additional 488,816 shares during the period. Finally, GF Fund Management CO. LTD. grew its stake in Iron Mountain by 4.3% in the first quarter. GF Fund Management CO. LTD. now owns 5,558 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 228 shares during the period. Institutional investors own 80.13% of the company’s stock.

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.