William Meaney Sells 98,657 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 98,657 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $106.25, for a total value of $10,482,306.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Iron Mountain Price Performance

IRM stock opened at $107.72 on Wednesday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $115.24. The company has a market cap of $31.87 billion, a P/E ratio of 224.41 and a beta of 1.13. The stock’s fifty day moving average price is $97.80 and its 200-day moving average price is $95.59.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 720.83%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Iron Mountain during the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. boosted its position in shares of Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock worth $322,292,000 after purchasing an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock worth $349,021,000 after purchasing an additional 1,680,438 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after purchasing an additional 1,440,629 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IRM has been the topic of several recent research reports. Barclays increased their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.60.

About Iron Mountain

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.