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 the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 shares were 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 shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28.

Iron Mountain Stock Performance

IRM opened at $88.38 on Thursday. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 144.88, a PEG ratio of 5.15 and a beta of 1.04. The company has a fifty day moving average of $101.46 and a 200 day moving average of $111.56. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.55%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IRM shares. 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. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. 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. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $127.67.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently bought and sold shares of the business. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $26,000. Key Financial Inc grew its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Institutional investors own 80.13% of the company’s stock.

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.