Iron Mountain Incorporated to Issue Quarterly Dividend of $0.72 (NYSE:IRM)

by · The Markets Daily

Iron Mountain Incorporated (NYSE:IRM – Get Free Report) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.715 per share by the financial services provider on Tuesday, January 7th. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, December 16th.

Iron Mountain has increased its dividend by an average of 0.8% per year over the last three years. Iron Mountain has a dividend payout ratio of 134.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Iron Mountain to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 62.6%.

Iron Mountain Price Performance

Iron Mountain stock traded up $0.41 during midday trading on Thursday, hitting $114.85. The company’s stock had a trading volume of 240,179 shares, compared to its average volume of 1,601,403. Iron Mountain has a 12 month low of $58.55 and a 12 month high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock’s 50-day moving average price is $118.98 and its 200-day moving average price is $101.17. The company has a market capitalization of $33.69 billion, a PE ratio of 146.72, a price-to-earnings-growth ratio of 7.33 and a beta of 0.99.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.50.

Read Our Latest Stock Report on Iron Mountain

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,637 shares of company stock valued at $3,210,575. Insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

(Get 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 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.

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