William L. Meaney Sells 69,125 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75.

Iron Mountain Stock Down 7.0 %

NYSE:IRM opened at $77.31 on Friday. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock’s 50 day moving average price is $92.35 and its two-hundred day moving average price is $107.29. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 126.74, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 4.06%. The ex-dividend date was Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently made changes to their positions in the company. Geller Advisors LLC lifted its holdings in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after buying an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in shares of Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 106 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock valued at $821,000 after acquiring an additional 112 shares in the last quarter. Finally, Mather Group LLC. increased its position in Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 113 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on IRM. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Finally, Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

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.