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

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were sold at an average price of $99.83, for a total value 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 value of $7,248,385.35.
• On Wednesday, December 11th, William L. Meaney sold 15,872 shares of Iron Mountain stock. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28.

Iron Mountain Stock Performance

Shares of IRM stock opened at $82.77 on Friday. The firm has a market cap of $24.31 billion, a price-to-earnings ratio of 135.68, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm’s 50-day simple moving average is $101.12 and its two-hundred day simple moving average is $111.40.

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

Iron Mountain Increases Dividend

The company also recently declared 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 represents a $3.14 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

Institutional Investors Weigh In On Iron Mountain

Several large investors have recently added to or reduced their stakes in the company. Comprehensive Money Management Services LLC bought a new position in Iron Mountain during the fourth quarter worth about $1,499,000. Park Square Financial Group LLC purchased a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $314,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $39,687,000. Employees Retirement System of Texas boosted its holdings in Iron Mountain by 28.6% in the 4th quarter. Employees Retirement System of Texas now owns 130,500 shares of the financial services provider’s stock worth $13,717,000 after buying an additional 29,000 shares during the period. Finally, Polar Asset Management Partners Inc. grew its stake in Iron Mountain by 227.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 141,500 shares of the financial services provider’s stock valued at $14,873,000 after buying an additional 98,300 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IRM. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company dropped 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, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.67.

About Iron Mountain

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.