Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells 69,125 Shares of Stock

Key Points

• William L. Meaney, CEO of Iron Mountain, sold 69,125 shares of the company's stock for approximately $6.54 million in a transaction dated August 1st, at an average price of $94.55 per share.
• Iron Mountain's stock has fluctuated between a 52-week low of $72.33 and a high of $130.24, currently trading at $95.65, with a market capitalization of $28.22 billion.
• Analysts have a consensus rating of "Buy" for Iron Mountain stock, with a price target set at $122.00, reflecting a potential upward trend from its current trading price.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

William L. Meaney also recently made the following trade(s):

• On Tuesday, July 1st, William L. Meaney sold 69,125 shares of Iron Mountain stock. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00.
• On Monday, June 2nd, William L. Meaney sold 69,125 shares of Iron Mountain stock. The shares were sold at an average price of $98.77, for a total value of $6,827,476.25.

Iron Mountain Trading Up 2.1%

NYSE:IRM traded up $1.87 during mid-day trading on Thursday, hitting $91.91. 3,068,563 shares of the company's stock traded hands, compared to its average volume of 1,863,895. The firm has a 50 day moving average of $99.78 and a two-hundred day moving average of $95.02. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 224.18 and a beta of 1.07. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. Iron Mountain's payout ratio is 2,242.86%.

Institutional Trading of Iron Mountain

Several large investors have recently made changes to their positions in the business. Whittier Trust Co. lifted its position in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 108 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after buying an additional 112 shares during the last quarter. Cooper Financial Group increased its position in shares of Iron Mountain by 3.7% during the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 113 shares during the last quarter. DoubleLine ETF Adviser LP lifted its holdings in Iron Mountain by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock worth $2,214,000 after acquiring an additional 114 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 118 shares during the period. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IRM shares. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Barclays increased their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus price target of $120.00.

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.