Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 9,800,000 shares, a decline of 6.8% from the March 15th total of 10,520,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is currently 6.8 days.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Baker-Greene sold 4,941 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $72.94, for a total transaction of $360,396.54. Following the sale, the executive vice president now directly owns 3,365 shares of the company’s stock, valued at approximately $245,443.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,249 shares of company stock valued at $11,480,926. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Seed Wealth Management Inc. purchased a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $208,000. Chesley Taft & Associates LLC raised its stake in shares of Iron Mountain by 1.0% in the 1st quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 150 shares during the period. Vert Asset Management LLC raised its stake in shares of Iron Mountain by 3.1% in the 1st quarter. Vert Asset Management LLC now owns 121,903 shares of the financial services provider’s stock valued at $9,778,000 after acquiring an additional 3,608 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of Iron Mountain by 177.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 8,184 shares during the period. Finally, RMR Wealth Builders purchased a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $377,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IRM shares. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Barclays boosted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus boosted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Stock Performance

NYSE:IRM opened at $74.84 on Tuesday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 118.80, a PEG ratio of 4.57 and a beta of 0.94. The company’s 50-day moving average is $76.05 and its two-hundred day moving average is $68.31. Iron Mountain has a 1-year low of $52.05 and a 1-year high of $82.19.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Analysts forecast that Iron Mountain will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.47%. Iron Mountain’s payout ratio is 412.70%.

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.