Iron Mountain Sees Unusually Large Options Volume (NYSE:IRM)

Iron Mountain Incorporated (NYSE:IRM) was the target of unusually large options trading activity on Monday. Stock investors purchased 14,527 put options on the stock. This is an increase of 504% compared to the typical daily volume of 2,407 put options.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in shares of Iron Mountain by 2.8% in 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 buying an additional 1,446 shares during the last quarter. Merit Financial Group LLC lifted its stake in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Iron Mountain in the 3rd quarter worth approximately $24,122,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM stock traded down $0.30 during midday trading on Monday, reaching $91.48. 1,125,466 shares of the company’s stock traded hands, compared to its average volume of 2,098,954. The firm has a market capitalization of $26.87 billion, a PE ratio of 149.97, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The company has a 50-day moving average price of $103.50 and a two-hundred day moving average price of $112.39. Iron Mountain has a 52 week low of $73.45 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, analysts predict that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.43%. Iron Mountain’s dividend payout ratio (DPR) is currently 468.85%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $127.67.

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.