William L. Meaney Sells 172,552 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

William L. Meaney also recently made the following trade(s):

• On Monday, February 3rd, William L. Meaney sold 69,125 shares of Iron Mountain stock. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75.
• On Thursday, January 2nd, William L. Meaney sold 69,131 shares of Iron Mountain stock. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35.
• On Wednesday, December 11th, William L. Meaney sold 15,872 shares of Iron Mountain stock. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28.

Iron Mountain Stock Performance

NYSE:IRM traded down $1.93 during trading hours on Tuesday, hitting $88.28. The stock had a trading volume of 2,666,684 shares, compared to its average volume of 2,151,603. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 144.72, a P/E/G ratio of 5.15 and a beta of 1.01. The business’s 50 day moving average is $101.46 and its 200-day moving average is $111.56.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.56%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Institutional Investors Weigh In On Iron Mountain

Several large investors have recently made changes to their positions in IRM. Farther Finance Advisors LLC increased its position in shares of Iron Mountain by 367.8% during the third quarter. Farther Finance Advisors LLC now owns 9,707 shares of the financial services provider’s stock worth $1,153,000 after acquiring an additional 7,632 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Iron Mountain by 5.8% during the third quarter. Chicago Partners Investment Group LLC now owns 3,478 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. Conning Inc. bought a new stake in shares of Iron Mountain during the third quarter worth $213,000. Pure Financial Advisors LLC bought a new stake in shares of Iron Mountain during the third quarter worth $409,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Iron Mountain during the third quarter worth $80,000. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $127.67.

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.