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

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 1,738 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 $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 value of $863,400.87.

Iron Mountain Price Performance

Shares of IRM stock opened at $82.77 on Friday. The company has a market capitalization of $24.31 billion, a P/E ratio of 135.68, a P/E/G ratio of 5.15 and a beta of 1.04. The company’s 50-day simple moving average is $101.12 and its two-hundred day simple moving average is $111.40. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 the consensus estimate 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 last year, the company earned $0.52 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed 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 is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IRM shares. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report 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 on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $127.67.

Institutional Trading of Iron Mountain

A number of hedge funds have recently added to or reduced their stakes in IRM. Wealthfront Advisers LLC raised its holdings in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Norges Bank bought a new position in Iron Mountain in the fourth quarter worth approximately $348,249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Northern Trust Corp boosted its position in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after acquiring an additional 1,554,746 shares in the last quarter. Finally, TD Asset Management Inc. increased its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after acquiring an additional 1,086,308 shares during the period. 80.13% of the stock is 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.