Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 7,540,000 shares, a drop of 5.4% from the December 31st total of 7,970,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 4.7 days.

Analyst Ratings Changes

Several brokerages have recently commented on IRM. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Key Financial Inc boosted its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter valued at approximately $31,000. West Branch Capital LLC bought a new position in Iron Mountain during the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter valued at approximately $36,000. Finally, Dunhill Financial LLC raised its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $100.64 on Tuesday. Iron Mountain has a 12-month low of $66.20 and a 12-month high of $130.24. The business has a 50 day simple moving average of $108.88 and a 200 day simple moving average of $112.65. The firm has a market capitalization of $29.53 billion, a P/E ratio of 279.57, a P/E/G ratio of 5.58 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.84%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

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.