Mithu Bhargava Sells 1,738 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mithu Bhargava also recently made the following trade(s):

• On Monday, December 23rd, Mithu Bhargava sold 8,263 shares of Iron Mountain stock. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87.

Iron Mountain Stock Performance

NYSE:IRM opened at $88.38 on Thursday. The stock has a 50-day simple moving average of $101.46 and a two-hundred day simple moving average of $111.56. The firm has a market capitalization of $25.96 billion, a PE ratio of 144.88, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts forecast 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 $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.55%. Iron Mountain’s dividend payout ratio is 514.75%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after acquiring an additional 128,622 shares during the period. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Northern Trust Corp raised its stake in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider’s stock worth $443,476,000 after purchasing an additional 15,097 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after purchasing an additional 92,475 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.