Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,888,648.75 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Iron Mountain Stock Down 2.5 %

IRM stock opened at $114.50 on Wednesday. Iron Mountain Incorporated has a 12 month low of $58.55 and a 12 month high of $130.24. The firm has a market capitalization of $33.60 billion, a PE ratio of 318.06, a P/E/G ratio of 7.17 and a beta of 0.99. The company’s 50 day simple moving average is $119.32 and its 200-day simple moving average is $102.47. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.79.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds have recently modified their holdings of the company. Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares during the period. Legal & General Group Plc lifted its stake in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its holdings in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on IRM shares. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays increased their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $129.80.

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.