Iron Mountain (NYSE:IRM) Trading Down 5.9% - What's Next?

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) shares traded down 5.9% during mid-day trading on Thursday . The stock traded as low as $98.81 and last traded at $96.67. 141,726 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,767,520 shares. The stock had previously closed at $102.68.

Analyst Ratings Changes

A number of analysts recently issued reports on IRM shares. Barclays increased their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Trading Up 1.1%

The company has a market capitalization of $30.11 billion, a P/E ratio of 248.94 and a beta of 1.09. The firm's 50 day moving average price is $96.99 and its two-hundred day moving average price is $96.51.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm earned $1.10 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.08%. Iron Mountain's payout ratio is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In other news, Director Walter C. Rakowich sold 900 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director now owns 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now owns 70,114 shares in the company, valued at approximately $6,740,759.96. The trade was a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock worth $20,319,408 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Iron Mountain by 0.5% during the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock worth $4,028,886,000 after buying an additional 220,564 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Iron Mountain by 9,843.3% during the 4th 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 period. Northern Trust Corp increased its holdings in shares of 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 worth $454,756,000 after acquiring an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Iron Mountain by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock valued at $366,210,000 after acquiring an additional 37,154 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after purchasing an additional 92,475 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

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.