Insider Selling: Iron Mountain Incorporated (NYSE:IRM) Director Sells 900 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director now directly owns 36,515 shares of the company's stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Iron Mountain Trading Up 1.0%

Shares of IRM stock traded up $1.00 during trading hours on Thursday, hitting $101.21. The company's stock had a trading volume of 1,491,247 shares, compared to its average volume of 1,865,092. The business has a fifty day moving average of $91.02 and a 200-day moving average of $98.36. The stock has a market cap of $29.86 billion, a price-to-earnings ratio of 165.92, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

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

Iron Mountain Announces Dividend

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 given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.10%. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IRM shares. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. Finally, Barclays increased their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $121.71.

Institutional Trading of Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. Wealthfront Advisers LLC boosted its position in 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 acquiring an additional 6,795,792 shares during the last quarter. Norges Bank acquired a new stake in Iron Mountain during the fourth quarter worth approximately $348,249,000. Nuveen LLC purchased a new position in Iron Mountain during the first quarter worth approximately $192,231,000. Northern Trust Corp raised its stake in Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares during the period. Finally, Contour Asset Management LLC purchased a new position in Iron Mountain during the first quarter worth approximately $122,801,000. Institutional investors and hedge funds 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.

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