Iron Mountain Incorporated (NYSE:IRM) EVP Sells $863,400.87 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Iron Mountain Stock Performance

NYSE:IRM opened at $104.72 on Friday. The firm has a market capitalization of $30.73 billion, a PE ratio of 290.90, a PEG ratio of 6.77 and a beta of 0.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The firm’s fifty day simple moving average is $117.10 and its 200 day simple moving average is $110.09.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.73%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Analysts Set New Price Targets

Several research analysts have weighed in on IRM shares. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $131.00.

Institutional Trading of Iron Mountain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. PNC Financial Services Group Inc. boosted its position in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the period. Friedenthal Financial bought a new position in shares of Iron Mountain during the 3rd quarter worth about $824,000. Tidal Investments LLC raised its position in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the third quarter valued at about $24,122,000. Finally, World Investment Advisors LLC bought a new position in Iron Mountain during the third quarter valued at about $554,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.