Iron Mountain (NYSE:IRM) Stock Price Down 4% on Analyst Downgrade

Shares of Iron Mountain Incorporated (NYSE:IRM) traded down 4% during trading on Tuesday after Barclays lowered their price target on the stock from $131.00 to $130.00. Barclays currently has an overweight rating on the stock. Iron Mountain traded as low as $101.27 and last traded at $99.80. 116,689 shares changed hands during trading, a decline of 93% from the average session volume of 1,764,132 shares. The stock had previously closed at $103.99.

A number of other research firms have also issued reports on IRM. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $130.83.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. OneDigital Investment Advisors LLC raised its holdings in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. Geller Advisors LLC lifted its position in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its stake in Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC increased its holdings in Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Down 4.4 %

The business has a fifty day moving average price of $110.65 and a 200 day moving average price of $112.56. The company has a market capitalization of $29.19 billion, a P/E ratio of 276.25, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

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.