Iron Mountain (NYSE:IRM) Sets New 52-Week Low – What’s Next?

Iron Mountain Incorporated (NYSE:IRM)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $72.33 and last traded at $73.09, with a volume of 196896 shares traded. The stock had previously closed at $77.19.

Analyst Upgrades and Downgrades

IRM has been the topic of several analyst reports. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Down 0.5 %

The firm has a 50 day simple moving average of $92.35 and a 200-day simple moving average of $107.17. The stock has a market cap of $22.56 billion, a P/E ratio of 126.08, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 4.09%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 over the last three months. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain in the 4th quarter worth about $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at about $26,000. Franchise Capital Ltd purchased a new stake in Iron Mountain during the first quarter worth about $39,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares during the period. Institutional investors own 80.13% of the company’s stock.

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.