Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 6.8% in March

Iron Mountain Incorporated (NYSE:IRM) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 9,800,000 shares, a drop 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 days-to-cover ratio is currently 6.8 days.

Iron Mountain Stock Performance

IRM stock opened at $75.15 on Thursday. The firm has a market cap of $21.96 billion, a price-to-earnings ratio of 119.29, a PEG ratio of 4.50 and a beta of 0.94. The firm has a 50-day simple moving average of $76.31 and a two-hundred day simple moving average of $68.47. 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.

Iron Mountain (NYSE:IRM) last released 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 net margin of 5.44% and a return on equity of 178.02%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. Iron Mountain’s dividend payout ratio (DPR) is currently 412.70%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the firm’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 transaction, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock worth $12,698,221 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

A number of institutional investors have recently bought and sold shares of the stock. Cohen & Steers Inc. grew its stake in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the last quarter. State Street Corp boosted its position in Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock valued at $819,026,000 after buying an additional 261,765 shares during the last quarter. Geode Capital Management LLC increased its holdings in Iron Mountain by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock worth $411,015,000 after buying an additional 837,623 shares during the period. Deutsche Bank AG raised its position in Iron Mountain by 10.5% during the 1st quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock worth $242,550,000 after buying an additional 436,842 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $224,698,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.