Iron Mountain Incorporated (NYSE:IRM) EVP Sells $807,383.72 in Stock

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction 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 completion of the transaction, the executive vice president now owns 70,114 shares in the company, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Iron Mountain Trading Up 0.8%

Shares of NYSE:IRM traded up $0.83 during midday trading on Friday, hitting $98.63. 4,731,334 shares of the stock were exchanged, compared to its average volume of 1,865,747. The stock has a market cap of $29.10 billion, a P/E ratio of 161.69, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a 50 day moving average price of $89.88 and a 200-day moving average price of $98.64.

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

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IRM. Key Financial Inc raised its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the 4th quarter valued at about $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the 4th quarter valued at about $26,000. Cranbrook Wealth Management LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $26,000. Finally, Financial Network Wealth Advisors LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IRM. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, Truist Financial started coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $121.71.

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.