Mark Kidd Sells 6,000 Shares of Iron Mountain (NYSE:IRM) Stock

Key Points

• Mark Kidd, the EVP of Iron Mountain Incorporated, sold 6,000 shares of the company's stock on September 2nd for a total of $546,300, resulting in a 7.05% decrease in his ownership stake to 79,081 shares.
• The company's stock price increased by 0.2% to $89.67 with a market capitalization of $26.48 billion and a P/E ratio of 640.55.
• Iron Mountain announced a quarterly dividend of $0.785 per share, with a payout ratio of 2,242.86%, set to be paid on October 3rd.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares of the company's stock, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mark Kidd also recently made the following trade(s):

• On Tuesday, July 1st, Mark Kidd sold 6,000 shares of Iron Mountain stock. The shares were sold at an average price of $102.02, for a total value of $612,120.00.

Iron Mountain Stock Up 0.2%

Shares of Iron Mountain stock traded up $0.21 during trading hours on Wednesday, reaching $89.67. 2,035,819 shares of the stock traded hands, compared to its average volume of 1,798,589. The company has a 50 day moving average price of $96.05 and a 200 day moving average price of $93.30. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 640.55 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's payout ratio is presently 2,242.86%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Barclays upped their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $120.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 108 shares in the last quarter. Cooper Financial Group lifted its position in shares of Iron Mountain by 3.7% in the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 113 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 118 shares in the last quarter. Diversify Advisory Services LLC lifted its position in shares of Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock valued at $572,000 after acquiring an additional 123 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Iron Mountain by 2.3% in the second quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider's stock valued at $585,000 after acquiring an additional 128 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

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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