Iron Mountain (NYSE:IRM) CEO William Meaney Sells 69,125 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 69,125 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Iron Mountain Trading Up 1.7%

Shares of IRM stock opened at $105.08 on Friday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a market cap of $31.03 billion, a PE ratio of 750.60 and a beta of 1.06. The company’s fifty day moving average price is $95.72 and its 200-day moving average price is $94.81.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were paid a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s payout ratio is presently 2,242.86%.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. GAMMA Investing LLC raised its position in Iron Mountain by 7,794.5% in the 1st quarter. GAMMA Investing LLC now owns 341,751 shares of the financial services provider’s stock worth $29,404,000 after buying an additional 337,422 shares during the last quarter. NBC Securities Inc. raised its position in Iron Mountain by 108,440.0% in the 1st quarter. NBC Securities Inc. now owns 5,427 shares of the financial services provider’s stock worth $466,000 after buying an additional 5,422 shares during the last quarter. Merit Financial Group LLC raised its position in Iron Mountain by 2.3% in the 1st quarter. Merit Financial Group LLC now owns 15,278 shares of the financial services provider’s stock worth $1,315,000 after buying an additional 345 shares during the last quarter. RFG Advisory LLC raised its position in Iron Mountain by 28.2% in the 1st quarter. RFG Advisory LLC now owns 18,183 shares of the financial services provider’s stock worth $1,564,000 after buying an additional 4,005 shares during the last quarter. Finally, Chesley Taft & Associates LLC raised its position in Iron Mountain by 2.8% in the 1st quarter. Chesley Taft & Associates LLC now owns 11,667 shares of the financial services provider’s stock worth $1,004,000 after buying an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Saturday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $116.83.

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.