Iron Mountain (NYSE:IRM) CEO William Meaney Sells 38,474 Shares

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,474 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the completion of the transaction, the chief executive officer owned 38,474 shares of the company’s stock, valued at approximately $3,951,664.54. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Trading Up 2.4%

IRM traded up $2.41 during trading on Thursday, hitting $103.36. 1,085,266 shares of the company’s stock traded hands, compared to its average volume of 1,881,831. The company’s 50 day simple moving average is $102.30 and its two-hundred day simple moving average is $96.69. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24. The stock has a market capitalization of $30.75 billion, a price-to-earnings ratio of 215.34 and a beta of 1.13.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio is presently 718.75%.

Hedge Funds Weigh In On Iron Mountain

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, Barclays lifted their price target 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. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average price target 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.