Iron Mountain (NYSE:IRM) CEO William Meaney Sells 137,133 Shares

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 137,133 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the sale, the chief executive officer directly owned 295,975 shares of the company’s stock, valued at approximately $32,376,705.25. This trade represents a 31.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Iron Mountain Stock Performance

IRM stock opened at $107.56 on Wednesday. The company’s fifty day moving average price is $95.29 and its 200-day moving average price is $95.05. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $115.24. The company has a market capitalization of $31.82 billion, a PE ratio of 224.08 and a beta of 1.13.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio is 720.83%.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $25,000. Quent Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter valued at $27,000. Beaird Harris Wealth Management LLC lifted its position 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 worth $29,000 after buying an additional 350 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Iron Mountain during the third quarter worth $32,000. Finally, DV Equities LLC bought a new position in Iron Mountain during the fourth quarter valued at $34,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $113.25.

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.