Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava Sells 1,738 Shares

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mithu Bhargava also recently made the following trade(s):

• On Monday, December 23rd, Mithu Bhargava sold 8,263 shares of Iron Mountain stock. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87.

Iron Mountain Stock Down 2.1 %

IRM stock traded down $1.93 during midday trading on Tuesday, hitting $88.28. 2,666,684 shares of the company traded hands, compared to its average volume of 2,151,603. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The business has a 50 day simple moving average of $101.46 and a 200-day simple moving average of $111.56. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 144.72, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business earned $0.52 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Institutional Investors Weigh In On Iron Mountain

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price 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.