Iron Mountain Incorporated (NYSE:IRM) CEO Sells 69,125 Shares

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 transaction of $6,827,476.25.
• On Friday, May 2nd, William L. Meaney sold 69,125 shares of Iron Mountain stock. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $1.92 during trading on Friday, reaching $101.53. 914,630 shares of the company were exchanged, compared to its average volume of 1,798,234. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $29.95 billion, a PE ratio of 247.62 and a beta of 1.08. The business's fifty day simple moving average is $98.73 and its 200-day simple moving average is $96.13.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned $1.10 earnings per share. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.09%. Iron Mountain's dividend payout ratio is currently 765.85%.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently made changes to their positions in the company. Whittier Trust Co. raised its position in shares of Iron Mountain by 3.4% during the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after purchasing an additional 108 shares during the period. Belpointe Asset Management LLC increased its stake in Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after buying an additional 112 shares during the period. DoubleLine ETF Adviser LP raised 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 purchasing an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock worth $285,000 after purchasing an additional 118 shares during the period. Finally, One Charles Private Wealth Services LLC boosted its stake in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Company Profile

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.