Iron Mountain (NYSE:IRM) CEO Sells $10,482,306.25 in Stock

Key Points

• Iron Mountain CEO William Meaney sold 98,657 shares on March 5 at an average price of $106.25, totaling $10,482,306.25, as disclosed in an SEC filing.
• The company declared a quarterly dividend of $0.864 per share (ex-dividend March 16, payable April 3), implying a $3.46 annualized payout and a ~3.2% yield, though the reported payout ratio is an unusually high 718.75%.
• Shares traded up 1.8% to $107.04; analysts have an average rating of "Moderate Buy" with an average price target of $116.60, and several firms (Barclays, Loop Capital) have raised targets into the $127–$130 range.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William Meaney sold 98,657 shares of Iron Mountain stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $106.25, for a total value of $10,482,306.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Iron Mountain Trading Up 1.8%

NYSE IRM traded up $1.86 on Monday, reaching $107.04. 1,292,189 shares of the company were exchanged, compared to its average volume of 2,044,315. The business's fifty day moving average price is $96.83 and its 200 day moving average price is $95.37. The stock has a market capitalization of $31.67 billion, a P/E ratio of 223.00 and a beta of 1.13. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $115.24.

Iron Mountain Dividend Announcement

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 of this dividend is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. Iron Mountain's payout ratio is presently 718.75%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRM. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Barclays raised their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.60.

Hedge Funds Weigh In On Iron Mountain

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

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.

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