Iron Mountain (NYSE:IRM) CEO Sells 38,474 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,474 shares of Iron Mountain stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Trading Up 0.1%

NYSE:IRM traded up $0.15 on Monday, reaching $121.30. 2,008,402 shares of the stock traded hands, compared to its average volume of 1,798,902. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The company’s 50 day moving average is $124.82 and its 200-day moving average is $115.00. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 86.64 and a beta of 1.20.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s dividend payout ratio is currently 247.14%.

Institutional Trading of Iron Mountain

Several large investors have recently made changes to their positions in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Iron Mountain by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock valued at $2,573,000 after acquiring an additional 1,286 shares during the period. Empowered Funds LLC raised its position in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 537 shares during the period. Woodline Partners LP raised its position in shares of Iron Mountain by 41.0% during the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock worth $2,129,000 after purchasing an additional 7,193 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Iron Mountain by 29.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 300 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Iron Mountain by 3.6% in the 2nd quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 1,222 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on IRM shares. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays boosted their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Wells Fargo & Company raised their target price on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings upgraded Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $135.17.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.