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

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a significant drop in short interest during the month of 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 trading volume of 1,440,000 shares, the days-to-cover ratio is presently 6.8 days.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus boosted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, 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 note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Insider Activity at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $360,396.54. Following the transaction, the executive vice president now owns 3,365 shares in the company, valued at approximately $245,443.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,249 shares of company stock worth $11,480,926. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. grew its position in shares of 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 worth $1,572,936,000 after purchasing an additional 15,035,937 shares in 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 in the last quarter. Geode Capital Management LLC boosted its position in Iron Mountain by 12.1% in the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock valued at $411,015,000 after buying an additional 837,623 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Iron Mountain by 10.5% during the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock valued at $242,550,000 after acquiring an additional 436,842 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $224,698,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Down 0.2 %

Iron Mountain stock traded down $0.13 during midday trading on Wednesday, hitting $74.71. The stock had a trading volume of 1,124,587 shares, compared to its average volume of 1,085,090. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The business has a fifty day moving average price of $76.16 and a 200 day moving average price of $68.42. Iron Mountain has a 12 month low of $52.05 and a 12 month high of $82.19. The stock has a market cap of $21.84 billion, a P/E ratio of 118.59, a P/E/G ratio of 4.50 and a beta of 0.94.

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

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is presently 412.70%.

Iron Mountain Company Profile

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.