Edward Baker-Greene Sells 2,262 Iron Mountain Incorporated (NYSE:IRM) Shares

VaselineAugust 24, 2024

0 4 minutes read

Iron Mountain Incorporated (NYSE:IRM – Get Your Free Report) EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. The transaction was disclosed in a filing with the SEC, which can be accessed via this link.

Edward Baker-Greene also recently made the following trades:

On Thursday, June 20th, Edward Baker-Greene sold 6,200 shares of Iron Mountain stock. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00.

Iron Mountain stocks rose 0.7%

Shares of Iron Mountain stock opened at $112.85 on Friday. The company’s 50-day moving average price is $98.06 and its 200-day moving average price is $84.77. The company has a quick ratio of 0.86, a current ratio of 0.79, and a debt-to-equity ratio of 674.63. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 170.98, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $112.93.

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Iron Mountain (NYSE:IRM – Get Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. 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 earned $0.94 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain increases dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16. This represents a dividend of $2.86 on an annualized basis and a yield of 2.53%. Iron Mountain’s payout ratio is currently 433.33%.

Analysts set new price targets

MRI has been the subject of several research reports. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.83, according to MarketBeat.

Read our latest research report on Iron Mountain

Institutional investors are stepping in on Iron Mountain

Several hedge funds have recently modified their holdings of IRM. Cohen & Steers Inc. raised its stake in 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 valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $228,391,000. Centersquare Investment Management LLC boosted its stake in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares during the period. Legal & General Group Plc lifted its position in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares during the period. 80.13% of the shares are held by hedge funds and other institutional investors.

Iron Mountain Company Profile

(Get a free report)

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 enhance our customers’ workforce. Through a wide 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 companies bring light to their data dark, enabling customers to unlock value and intelligence from their stored digital and physical assets with speed and security, while helping them achieve their environmental goals.