Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells $5,952,353.75 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The sale was disclosed in a filing 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 value of $6,900,748.75.

Iron Mountain Price Performance

NYSE IRM opened at $77.31 on Friday. The stock’s 50 day simple moving average is $92.35 and its 200 day simple moving average is $107.23. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The firm has a market cap of $22.71 billion, a PE ratio of 126.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

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

Iron Mountain Increases Dividend

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

Analysts Set New Price Targets

IRM has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Finally, Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research 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 stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Institutional Trading of Iron Mountain

Several hedge funds have recently modified their holdings of IRM. Benjamin Edwards Inc. acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $2,734,000. Hilltop Holdings Inc. increased its position in Iron Mountain by 18.4% in the third quarter. Hilltop Holdings Inc. now owns 7,296 shares of the financial services provider’s stock worth $867,000 after purchasing an additional 1,134 shares during the period. HighTower Advisors LLC raised its holdings in Iron Mountain by 6.1% during the 3rd quarter. HighTower Advisors LLC now owns 131,174 shares of the financial services provider’s stock worth $15,581,000 after purchasing an additional 7,529 shares during the last quarter. IHT Wealth Management LLC lifted its position in Iron Mountain by 25.8% during the 3rd quarter. IHT Wealth Management LLC now owns 12,101 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 2,479 shares during the period. Finally, Mission Creek Capital Partners Inc. bought a new position in shares of Iron Mountain in the 3rd quarter valued at about $248,000. 80.13% of the stock is owned by institutional investors.

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.