Iron Mountain Incorporated (NYSE:IRM – Get Free Report) CEO William Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Friday, November 6th. The stock was sold at an average price of $105.72, for a total value of $4,067,471.28. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,067,471.28. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Iron Mountain Trading Up 1.3%
Shares of IRM stock opened at $112.22 on Thursday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The company’s 50-day moving average price is $113.49 and its 200-day moving average price is $115.64. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 73.35 and a beta of 1.18.
Iron Mountain (NYSE:IRM – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Iron Mountain had a net margin of 5.88% and a negative return on equity of 79.98%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the business earned $1.32 earnings per share. Iron Mountain’s revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.
Iron Mountain Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.9930 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.97 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. Iron Mountain’s payout ratio is 259.48%.
Hedge Funds Weigh In On Iron Mountain
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Iron Mountain in the second quarter valued at approximately $4,240,342,000. Legal & General Group Plc acquired a new position in Iron Mountain during the second quarter worth $409,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Iron Mountain by 29,674.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock worth $403,379,000 after buying an additional 3,182,834 shares during the period. Deutsche Bank AG purchased a new position in shares of Iron Mountain during the second quarter worth $385,129,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Iron Mountain in the second quarter valued at $202,106,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on IRM. Wells Fargo & Company increased their price objective on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Jefferies Financial Group decreased their price target on Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. The Goldman Sachs Group increased their price target on Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Rothschild & Co Redburn began coverage on Iron Mountain in a research report on Monday, September 21st. They set a “buy” rating and a $132.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.33.
Check Out Our Latest Analysis on IRM
Iron Mountain Company Profile
Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.
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