Insider Selling: Iron Mountain (NYSE:IRM) CEO Sells $15,000,978.87 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 137,133 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the transaction, the chief executive officer directly owned 295,975 shares in the company, valued at approximately $32,376,705.25. The trade was a 31.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Iron Mountain Trading Down 0.6%

Shares of NYSE:IRM opened at $107.15 on Friday. The company has a 50 day moving average of $96.37 and a 200-day moving average of $95.22. 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 twelve month low of $72.33 and a twelve month high of $115.24.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a dividend of $0.864 per share. 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 dividend payout ratio (DPR) is 718.75%.

Wall Street Analyst Weigh In

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

Institutional Trading of Iron Mountain

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Iron Mountain by 0.4% in the third quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider’s stock worth $4,816,981,000 after acquiring an additional 188,213 shares in the last quarter. Cohen & Steers Inc. grew its position in Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. State Street Corp grew its position in Iron Mountain by 1.9% during the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after purchasing an additional 322,144 shares in the last quarter. Geode Capital Management LLC raised its stake in Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after purchasing an additional 102,073 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after purchasing an additional 776,933 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

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.