Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,217,295.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $22,670,442. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Iron Mountain Trading Up 0.9 %

Shares of Iron Mountain stock opened at $75.10 on Friday. The stock’s 50-day simple moving average is $76.56 and its 200 day simple moving average is $68.62. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19. The stock has a market capitalization of $21.95 billion, a P/E ratio of 119.21, a P/E/G ratio of 4.52 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. increased its position in shares of Iron Mountain by 6.2% during the first quarter. First Trust Direct Indexing L.P. now owns 6,114 shares of the financial services provider’s stock valued at $490,000 after buying an additional 356 shares during the period. Norden Group LLC purchased a new position in shares of Iron Mountain during the first quarter worth about $657,000. State of Alaska Department of Revenue grew its holdings in shares of Iron Mountain by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 170,027 shares of the financial services provider’s stock worth $13,637,000 after purchasing an additional 637 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Iron Mountain during the first quarter worth about $149,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Iron Mountain by 21.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 129,953 shares of the financial services provider’s stock worth $10,424,000 after purchasing an additional 22,715 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IRM shares. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays boosted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.80.

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.