Iron Mountain Incorporated (NYSE:IRM) COO John Tomovcsik Sells 35,084 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Iron Mountain Price Performance

IRM opened at $89.09 on Tuesday. The company’s 50 day simple moving average is $81.12 and its 200 day simple moving average is $75.41. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a 1 year low of $53.97 and a 1 year high of $89.91. The stock has a market capitalization of $26.11 billion, a PE ratio of 134.99, a P/E/G ratio of 5.26 and a beta of 0.95.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.92%. Iron Mountain’s dividend payout ratio is presently 393.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IRM. Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $73.80.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds have recently modified their holdings of IRM. Cohen & Steers Inc. boosted its position in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the last quarter. Norges Bank acquired a new position in Iron Mountain during the fourth quarter valued at approximately $228,391,000. Wellington Management Group LLP lifted its position in Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

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.