Insider Selling: Iron Mountain Incorporated (NYSE:IRM) Director Sells $989,230.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Iron Mountain Trading Up 1.1 %

IRM stock opened at $115.36 on Friday. The company has a market cap of $33.82 billion, a P/E ratio of 174.79, a PEG ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $118.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The business has a fifty day moving average of $107.88 and a 200-day moving average of $90.90.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analysts Set New Price Targets

Several brokerages have issued reports on IRM. Stifel Nicolaus lifted their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its holdings in Iron Mountain by 2.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after purchasing an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Iron Mountain by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after purchasing an additional 59,381 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. 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.