Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells 172,552 Shares of 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 stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 Up 0.2 %

Shares of IRM opened at $88.38 on Thursday. The company 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. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The stock’s 50-day moving average price is $101.46 and its 200-day moving average price is $111.56.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRM. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain in the fourth quarter valued at approximately $26,000. Key Financial Inc increased its position in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired 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 position in shares of Iron Mountain during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several research reports. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Barclays reduced their price target 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. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.