Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) was the recipient of 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

In related news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

Several large investors have recently made changes to their positions in IRM. Cohen & Steers Inc. increased its position in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth $224,698,000. Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter worth $228,391,000. Wellington Management Group LLP increased its position in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $74.84 on Tuesday. Iron Mountain has a one year low of $52.05 and a one year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average price of $76.05 and a 200 day moving average price of $68.31. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 118.80, a price-to-earnings-growth ratio of 4.57 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Iron Mountain will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.