Iron Mountain (NYSE:IRM) Sets New 1-Year High at $115.43

Iron Mountain Incorporated (NYSE:IRM) reached a new 52-week high on Thursday . The company traded as high as $115.43 and last traded at $115.40, with a volume of 42859 shares traded. The stock had previously closed at $114.16.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Trading Up 0.9 %

The business’s 50-day simple moving average is $105.10 and its two-hundred day simple moving average is $89.34. The firm has a market capitalization of $33.84 billion, a price-to-earnings ratio of 173.30, a PEG ratio of 6.56 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insider Buying and Selling at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders sold a total of 68,882 shares of company stock valued at $6,293,740 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IRM. Newbridge Financial Services Group Inc. lifted its position in shares of Iron Mountain by 149.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,746 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 1,045 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Iron Mountain in the second quarter valued at $3,005,000. EP Wealth Advisors LLC lifted its holdings in Iron Mountain by 12.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,558 shares of the financial services provider’s stock worth $1,305,000 after buying an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Iron Mountain by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 52,094 shares of the financial services provider’s stock worth $4,669,000 after acquiring an additional 1,213 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Iron Mountain by 49.7% in the 2nd quarter. NewEdge Advisors LLC now owns 44,040 shares of the financial services provider’s stock valued at $3,947,000 after acquiring an additional 14,625 shares during the last quarter. Hedge funds and other institutional investors 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.