Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 9,920,000 shares, a decrease of 13.7% from the August 15th total of 11,490,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is currently 4.9 days.

Iron Mountain Price Performance

IRM traded up $0.53 on Wednesday, reaching $116.45. 1,282,446 shares of the company’s stock were exchanged, compared to its average volume of 1,629,640. The stock has a market cap of $34.14 billion, a PE ratio of 176.44, a P/E/G ratio of 6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. Iron Mountain has a twelve month low of $56.51 and a twelve month high of $118.46. The stock’s fifty day moving average price is $107.06 and its 200-day moving average price is $90.55.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 EPS. Sell-side analysts expect that Iron Mountain will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Insider Buying and Selling

In other news, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the sale, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 20,366 shares in the company, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,287 shares of company stock worth $7,014,232. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after buying an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares during the period. Finally, Centersquare Investment Management LLC increased its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IRM shares. Wells Fargo & Company upped their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.83.

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.