Iron Mountain Incorporated (NYSE:IRM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $113.00.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Barclays reissued an “overweight” rating and set a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th.

Iron Mountain Price Performance

Shares of IRM opened at $109.72 on Tuesday. The firm has a 50 day simple moving average of $89.30 and a two-hundred day simple moving average of $93.72. Iron Mountain has a one year low of $72.33 and a one year high of $110.91. The company has a market cap of $32.46 billion, a P/E ratio of 228.59 and a beta of 1.16.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is 720.83%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the sale, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 38,482 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total transaction of $3,200,547.94. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,607 shares of company stock worth $9,970,025 over the last three months. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Intact Investment Management Inc. purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $3,588,000. Sei Investments Co. grew its stake in shares of Iron Mountain by 4.2% in the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after acquiring an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Iron Mountain by 11.9% in the second quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after purchasing an additional 6,937 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Iron Mountain by 17.2% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock valued at $10,598,000 after purchasing an additional 15,225 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Iron Mountain by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 125,142 shares of the financial services provider’s stock worth $12,863,000 after purchasing an additional 40,341 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.