Iron Mountain (NYSE:IRM) CEO William Meaney Sells 98,659 Shares

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 98,659 shares of Iron Mountain stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $107.36, for a total value of $10,592,030.24. Following the sale, the chief executive officer directly owned 98,657 shares of the company’s stock, valued at approximately $10,591,815.52. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Iron Mountain Trading Down 0.6%

Shares of Iron Mountain stock traded down $0.69 during trading on Thursday, hitting $107.15. 1,592,751 shares of the stock traded hands, compared to its average volume of 2,088,903. The firm has a market cap of $31.70 billion, a P/E ratio of 223.23 and a beta of 1.13. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $115.24. The stock’s fifty day simple moving average is $95.83 and its 200 day simple moving average is $95.14.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a $0.864 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. Iron Mountain’s payout ratio is currently 720.83%.

Analyst Ratings Changes

IRM has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, Barclays upped their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bayban purchased a new stake in Iron Mountain in the fourth quarter valued at about $33,000. SHP Wealth Management purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $145,000. CFO Capital Management LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $418,000. BDFS Capital LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at approximately $340,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Iron Mountain by 17,500.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

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.