Insider Selling: Iron Mountain (NYSE:IRM) CEO Sells $3,200,547.94 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,482 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total value of $3,200,547.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Iron Mountain Trading Up 0.3%

Shares of NYSE:IRM opened at $87.28 on Friday. The company has a market capitalization of $25.80 billion, a PE ratio of 164.69 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $112.18. The business’s fifty day simple moving average is $87.45 and its 200-day simple moving average is $94.76.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business posted $1.13 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were issued a $0.864 dividend. The ex-dividend date was Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is 652.83%.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently made changes to their positions in IRM. Koshinski Asset Management Inc. raised its stake in Iron Mountain by 2.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 98 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of Iron Mountain by 3.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 103 shares during the period. Continuum Advisory LLC raised its stake in shares of Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 104 shares during the last quarter. Natural Investments LLC lifted its holdings in shares of Iron Mountain by 3.1% during the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 107 shares during the period. Finally, Merit Financial Group LLC boosted its position in Iron Mountain by 0.5% in the third quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock valued at $2,032,000 after buying an additional 109 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on IRM. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Barclays upped their price target on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $114.80.

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.