Iron Mountain (NYSE:IRM) Stock Price Down 5.8% - What's Next?

Iron Mountain Incorporated (NYSE:IRM - Get Free Report)'s share price fell 5.8% during trading on Wednesday . The company traded as low as $97.50 and last traded at $100.01. 744,007 shares changed hands during trading, a decline of 58% from the average session volume of 1,763,176 shares. The stock had previously closed at $106.21.

Wall Street Analyst Weigh In

A number of brokerages have commented on IRM. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. Barclays cut their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $127.67.

Iron Mountain Price Performance

The firm has a 50 day simple moving average of $104.71 and a 200-day simple moving average of $112.66. The company has a market cap of $27.60 billion, a price-to-earnings ratio of 261.22, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM - Get Free Report) last posted 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 business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. During the same period last year, the business earned $0.52 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.34%. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 over the last quarter. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Key Financial Inc boosted its position in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the third quarter valued at $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter valued at $36,000. 80.13% of the stock is currently owned by hedge funds and other 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.