Stock Traders Purchase Large Volume of Iron Mountain Call Options (NYSE:IRM)

Iron Mountain Inc (NYSE:IRM) was the target of unusually large options trading activity on Thursday. Traders acquired 33,141 call options on the stock. This is an increase of approximately 3,688% compared to the typical volume of 875 call options.

NYSE IRM traded down $1.59 on Friday, reaching $32.55. The company’s stock had a trading volume of 3,607,908 shares, compared to its average volume of 2,492,722. Iron Mountain has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $9.80 billion, a PE ratio of 14.15, a PEG ratio of 3.90 and a beta of 0.54. The firm’s 50 day moving average is $31.46 and its two-hundred day moving average is $32.64.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.30 EPS. Iron Mountain’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Iron Mountain will post 2.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be issued a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date of this dividend is Friday, September 13th. Iron Mountain’s payout ratio is 106.09%.

Several research firms recently weighed in on IRM. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b-” rating in a report on Monday. Credit Suisse Group reaffirmed a “sell” rating and issued a $21.00 price objective on shares of Iron Mountain in a report on Thursday. Bank of America downgraded shares of Iron Mountain from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $25.00 in a report on Thursday, July 11th. Robert W. Baird raised shares of Iron Mountain from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $27.00 to $29.00 in a report on Friday, August 2nd. Finally, ValuEngine raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.51.

In related news, EVP Patrick J. Keddy sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $33.00, for a total value of $198,000.00. Following the completion of the sale, the executive vice president now owns 24,114 shares of the company’s stock, valued at $795,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Iron Mountain by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,733,966 shares of the financial services provider’s stock valued at $1,431,474,000 after acquiring an additional 1,111,513 shares during the last quarter. BlackRock Inc. lifted its holdings in Iron Mountain by 1.9% in the 2nd quarter. BlackRock Inc. now owns 20,655,719 shares of the financial services provider’s stock valued at $646,523,000 after acquiring an additional 384,196 shares during the last quarter. Invesco Ltd. lifted its holdings in Iron Mountain by 4.7% in the 2nd quarter. Invesco Ltd. now owns 6,460,424 shares of the financial services provider’s stock valued at $202,212,000 after acquiring an additional 291,618 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Iron Mountain by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock valued at $126,683,000 after acquiring an additional 270,237 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Iron Mountain by 34.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,906,191 shares of the financial services provider’s stock valued at $120,624,000 after acquiring an additional 990,959 shares during the last quarter. 85.93% of the stock is owned by institutional investors.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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