Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells 15,875 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Iron Mountain Stock Down 2.5 %

Shares of IRM opened at $114.50 on Wednesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. Iron Mountain Incorporated has a 52 week low of $58.55 and a 52 week high of $130.24. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 318.06, a PEG ratio of 7.17 and a beta of 0.99. The stock has a fifty day moving average of $119.32 and a 200-day moving average of $102.47.

Iron Mountain Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Centersquare Investment Management LLC grew its holdings in Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Iron Mountain by 49.2% in the second 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 last quarter. AGF Management Ltd. increased its holdings in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the period. Mizuho Securities USA LLC raised its position in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Iron Mountain by 12,953.4% during the 3rd 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. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IRM. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays upped their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $129.80.

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.