An issue of Iron Mountain (NYSE:IRM) debt rose 0.9% against its face value during trading on Monday. The high-yield debt issue has a 4.875% coupon and is set to mature on September 15, 2027. The bonds in the issue are now trading at $94.75 and were trading at $93.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Several research firms recently commented on IRM. Goldman Sachs began coverage on shares of Iron Mountain in a research report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. ValuEngine lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.50.
IRM stock traded down $0.21 during midday trading on Monday, hitting $33.32. The company’s stock had a trading volume of 1,183,497 shares, compared to its average volume of 2,058,809. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 3.00. Iron Mountain has a twelve month low of $30.78 and a twelve month high of $41.53. The firm has a market capitalization of $9,566.50, a P/E ratio of 15.64 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were paid a $0.5875 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.35 annualized dividend and a yield of 7.05%. Iron Mountain’s payout ratio is currently 110.33%.
In other news, EVP Theodore Maclean sold 1,076 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.30, for a total transaction of $34,754.80. Following the transaction, the executive vice president now directly owns 6,367 shares in the company, valued at approximately $205,654.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William L. Meaney sold 11,014 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $37.09, for a total transaction of $408,509.26. Following the transaction, the insider now owns 111,592 shares in the company, valued at $4,138,947.28. The disclosure for this sale can be found here. Insiders have sold a total of 40,029 shares of company stock worth $1,349,120 over the last 90 days. 1.50% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in shares of Iron Mountain during the 4th quarter worth about $128,000. Global X Management Co. LLC increased its stake in shares of Iron Mountain by 196.2% during the 4th quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 2,345 shares during the last quarter. Aevitas Wealth Management Inc. acquired a new position in shares of Iron Mountain during the 4th quarter worth about $155,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Iron Mountain by 11,438.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,846 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 4,804 shares during the last quarter. Finally, Solaris Asset Management LLC grew its stake in Iron Mountain by 94.4% in the 4th quarter. Solaris Asset Management LLC now owns 5,663 shares of the financial services provider’s stock valued at $214,000 after buying an additional 2,750 shares during the last quarter. Institutional investors own 89.21% of the company’s stock.
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Iron Mountain Company Profile
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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