Walter C. Rakowich Sells 1,219 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM – Get Rating) Director Walter C. Rakowich sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $55.53, for a total value of $67,691.07. Following the completion of the sale, the director now owns 33,735 shares of the company’s stock, valued at approximately $1,873,304.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Iron Mountain Price Performance

NYSE:IRM opened at $53.45 on Thursday. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $53.46 and its 200 day simple moving average is $52.90. The company has a market cap of $15.59 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.62 and a beta of 0.91. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $57.21.

Iron Mountain (NYSE:IRM – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Iron Mountain had a net margin of 11.20% and a return on equity of 88.48%. Iron Mountain’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 3.77 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 124.75%.

Hedge Funds Weigh In On Iron Mountain

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its position in shares of Iron Mountain by 103.7% in the third quarter. Cubist Systematic Strategies LLC now owns 77,968 shares of the financial services provider’s stock valued at $3,428,000 after purchasing an additional 39,691 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of Iron Mountain in the 3rd quarter valued at $459,000. Whittier Trust Co. increased its holdings in Iron Mountain by 8.1% in the fourth quarter. Whittier Trust Co. now owns 2,923 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 220 shares during the period. Financial Advocates Investment Management acquired a new stake in Iron Mountain in the third quarter valued at $204,000. Finally, Barclays PLC increased its holdings in Iron Mountain by 31.1% in the third quarter. Barclays PLC now owns 587,785 shares of the financial services provider’s stock valued at $25,843,000 after purchasing an additional 139,514 shares during the period. Institutional investors and hedge funds own 77.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research report on Monday, March 6th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Barclays lifted their price objective on Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.00.

Iron Mountain Company Profile

(Get Rating)

Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.