Insider Selling: Iron Mountain (NYSE:IRM) CEO Sells $4,681,131.58 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,474 shares of Iron Mountain stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the transaction, the chief executive officer owned 38,474 shares of the company’s stock, valued at $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $0.15 during midday trading on Monday, hitting $121.30. 2,008,402 shares of the company’s stock were exchanged, compared to its average volume of 1,798,902. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company has a market cap of $36.09 billion, a PE ratio of 86.64 and a beta of 1.20. The stock has a 50 day moving average price of $124.82 and a 200-day moving average price of $115.00.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s payout ratio is currently 247.14%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings raised Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their target price on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays upped their price target on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.17.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S bought a new stake in Iron Mountain during the second quarter worth $20,331,000. Diversify Advisory Services LLC bought a new position in Iron Mountain in the 2nd quarter valued at $1,086,000. Gables Capital Management Inc. bought a new position in Iron Mountain in the 2nd quarter valued at $2,424,000. Wealthfront Advisers LLC purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at $8,902,000. Finally, Foster & Motley Inc. purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at $406,000. 80.13% of the stock is owned by hedge funds and other 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.