William L. Meaney Sells 15,875 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $1.65 during trading on Wednesday, reaching $120.49. 1,006,972 shares of the company traded hands, compared to its average volume of 1,619,485. The company’s 50 day moving average is $112.92 and its two-hundred day moving average is $94.54. The firm has a market capitalization of $35.32 billion, a PE ratio of 181.33, a PEG ratio of 7.09 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $120.70.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 433.33%.

Institutional Trading of Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain during the 2nd quarter worth $32,000. Transcendent Capital Group LLC bought a new stake in shares of Iron Mountain during the 4th quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth $38,000. Finally, Family Firm Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth $45,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays boosted their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

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.