Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CAO Sells 6,433 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Iron Mountain Trading Up 1.7 %

Iron Mountain stock traded up $1.42 during midday trading on Friday, hitting $84.21. The stock had a trading volume of 3,868,939 shares, compared to its average volume of 2,231,151. The firm's fifty day moving average is $100.66 and its two-hundred day moving average is $111.20. The company has a market capitalization of $24.74 billion, a PE ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

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Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.73%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio is currently 514.75%.

Institutional Investors Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the 4th quarter worth approximately $26,000. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC bought a new position in Iron Mountain in the 3rd quarter worth approximately $31,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the 3rd quarter worth approximately $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, Barclays reduced their price target on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $127.67.

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.