Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 5.4% in December

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 7,540,000 shares, a decrease of 5.4% from the December 15th total of 7,970,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is currently 4.7 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IRM shares. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.00.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Friedenthal Financial acquired a new position in Iron Mountain during the third quarter worth $824,000. Tidal Investments LLC raised its position in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Iron Mountain during the third quarter worth $24,122,000. Finally, World Investment Advisors LLC acquired a new stake in Iron Mountain in the third quarter valued at $554,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.0 %

Iron Mountain stock opened at $109.19 on Monday. Iron Mountain has a 1-year low of $65.01 and a 1-year high of $130.24. The company has a fifty day simple moving average of $111.35 and a 200 day simple moving average of $111.88. The company has a market cap of $32.04 billion, a P/E ratio of 303.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Iron Mountain Company Profile

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.