Iron Mountain (NYSE:IRM) CEO William Meaney Sells 38,474 Shares

Key Points

• CEO William Meaney sold 38,474 Iron Mountain shares in a transaction worth about $4.73 million at an average price of $122.83. The sale was made under a pre-arranged Rule 10b5-1 plan.
• IRM shares fell 3.9% to $117.13 amid heavier-than-usual trading volume. The stock is trading between a 52-week low of $77.77 and high of $134.68.
• Iron Mountain recently beat quarterly earnings and revenue estimates, reporting $0.60 EPS on $1.94 billion in revenue, and it maintained a quarterly dividend of $0.864 per share. Analysts currently rate the stock a Moderate Buy with an average target price of $134.33.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William Meaney sold 38,474 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,725,761.42. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Stock Down 3.9%

Shares of IRM traded down $4.77 during mid-day trading on Thursday, hitting $117.13. The company had a trading volume of 2,949,904 shares, compared to its average volume of 1,733,074. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The business's 50-day simple moving average is $125.76 and its 200-day simple moving average is $107.89. The stock has a market cap of $34.85 billion, a PE ratio of 128.71 and a beta of 1.19.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain's revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. On average, sell-side analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be issued a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is presently 380.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IRM shares. Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Loop Capital set a $130.00 target price on Iron Mountain in a report on Wednesday, March 4th. Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of Iron Mountain from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $134.33.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Iron Mountain in the fourth quarter valued at about $368,890,000. Cohen & Steers Inc. lifted its holdings 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 buying an additional 3,155,034 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Iron Mountain by 597.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider's stock worth $322,292,000 after acquiring an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Iron Mountain by 66.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock worth $349,021,000 after acquiring an additional 1,680,438 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after acquiring an additional 776,933 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Company Profile

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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