Short Interest in Iron Mountain Incorporated (NYSE:IRM) Decreases By 9.9%

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 8,350,000 shares, a decline of 9.9% from the October 31st total of 9,270,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the short-interest ratio is currently 5.8 days.

Wall Street Analysts Forecast Growth

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

Iron Mountain Stock Down 1.1 %

Shares of NYSE:IRM traded down $1.36 during midday trading on Tuesday, hitting $120.23. 2,275,232 shares of the company’s stock traded hands, compared to its average volume of 1,591,721. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $35.28 billion, a PE ratio of 333.79, a P/E/G ratio of 7.27 and a beta of 0.98. The firm’s fifty day moving average price is $120.65 and its two-hundred day moving average price is $106.47. Iron Mountain has a twelve month low of $64.66 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.38%. Iron Mountain’s payout ratio is 794.47%.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the 3rd quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain in the 2nd quarter worth $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the 2nd quarter worth $36,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain in the 3rd quarter worth $36,000. Institutional investors and hedge funds 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.