Iron Mountain Incorporated (NYSE:IRM) Given Average Rating of "Moderate Buy" by Analysts

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $135.1667.

A number of research analysts recently weighed in on IRM shares. Weiss Ratings raised Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Wells Fargo & Company increased their price target on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st.

Insider Activity at Iron Mountain

In other news, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total transaction of $94,208.65. Following the sale, the director owned 1,135 shares of the company's stock, valued at approximately $141,250.75. This trade represents a 40.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 135,368 shares of company stock valued at $16,807,080 in the last quarter. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at about $25,000. Bell Investment Advisors Inc bought a new stake in Iron Mountain during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Iron Mountain during the 2nd quarter worth about $27,000. Beaird Harris Wealth Management LLC lifted its position in Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 350 shares during the period. Finally, Dynamic Wealth Strategies LLC bought a new position in shares of Iron Mountain in the 1st quarter valued at about $31,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM stock opened at $121.30 on Tuesday. Iron Mountain has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The stock's 50-day moving average is $124.73 and its two-hundred day moving average is $115.21. The firm has a market cap of $36.09 billion, a P/E ratio of 86.64 and a beta of 1.20.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio is currently 247.14%.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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