Iron Mountain (NYSE:IRM) Given New $130.00 Price Target at Barclays

Iron Mountain (NYSE:IRM) had its price target lowered by Barclays from $131.00 to $130.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on IRM. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.83.

Iron Mountain Trading Up 1.7 %

Shares of IRM opened at $102.33 on Tuesday. The firm has a fifty day moving average price of $109.64 and a 200-day moving average price of $112.42. The firm has a market capitalization of $30.03 billion, a P/E ratio of 284.26, a P/E/G ratio of 6.05 and a beta of 1.02. Iron Mountain has a 12-month low of $66.20 and a 12-month high of $130.24.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.79%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Insider Activity

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Iron Mountain

A number of large investors have recently modified their holdings of IRM. AQR Capital Management LLC boosted its stake in Iron Mountain by 0.6% in the 2nd quarter. AQR Capital Management LLC now owns 50,238 shares of the financial services provider’s stock worth $4,502,000 after purchasing an additional 322 shares in the last quarter. Creative Planning grew its holdings in shares of Iron Mountain by 16.3% during the second quarter. Creative Planning now owns 96,822 shares of the financial services provider’s stock valued at $8,677,000 after buying an additional 13,583 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Iron Mountain by 49.7% in the 2nd quarter. NewEdge Advisors LLC now owns 44,040 shares of the financial services provider’s stock valued at $3,947,000 after acquiring an additional 14,625 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Iron Mountain by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 52,094 shares of the financial services provider’s stock worth $4,669,000 after acquiring an additional 1,213 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in Iron Mountain by 12.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,558 shares of the financial services provider’s stock worth $1,305,000 after acquiring an additional 1,580 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

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.