Investors Buy Large Volume of Put Options on Iron Mountain (NYSE:IRM)

Iron Mountain Incorporated (NYSE:IRM) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 9,554 put options on the company. This represents an increase of 339% compared to the average volume of 2,174 put options.

Iron Mountain Trading Up 0.9%

Iron Mountain stock traded up $1.11 during mid-day trading on Wednesday, hitting $123.50. The stock had a trading volume of 416,785 shares, compared to its average volume of 1,787,863. The stock has a 50-day simple moving average of $124.61 and a two-hundred day simple moving average of $115.41. The stock has a market capitalization of $36.74 billion, a PE ratio of 88.21 and a beta of 1.20. Iron Mountain has a 12 month low of $77.77 and a 12 month high of $134.68.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 246.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings raised Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a research report on Friday, May 1st. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Barclays upped their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.17.

Insider Activity

In other news, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total value of $94,208.65. Following the completion of the transaction, the director directly owned 1,135 shares in the company, valued at $141,250.75. The trade was a 40.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 135,368 shares of company stock valued at $16,807,080 in the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Iron Mountain during the second quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in Iron Mountain in the second quarter valued at about $27,000. Beaird Harris Wealth Management LLC increased its holdings in Iron Mountain by 17,500.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC acquired a new position in Iron Mountain in the first quarter valued at about $31,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.