William L. Meaney Sells 172,552 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.
• On Thursday, January 2nd, William L. Meaney sold 69,131 shares of Iron Mountain stock. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35.
• On Wednesday, December 11th, William L. Meaney sold 15,872 shares of Iron Mountain stock. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28.

Iron Mountain Trading Up 1.7 %

IRM traded up $1.42 during midday trading on Friday, reaching $84.21. The company's stock had a trading volume of 3,868,939 shares, compared to its average volume of 2,231,151. The stock has a market cap of $24.74 billion, a P/E ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a fifty day simple moving average of $100.25 and a 200 day simple moving average of $111.03.

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Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $0.52 EPS. Sell-side 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 will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.73%. Iron Mountain's dividend payout ratio is presently 514.75%.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds have recently added to or reduced their stakes in IRM. Farther Finance Advisors LLC lifted its stake in Iron Mountain by 367.8% in the third quarter. Farther Finance Advisors LLC now owns 9,707 shares of the financial services provider's stock valued at $1,153,000 after buying an additional 7,632 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Iron Mountain by 5.8% in the third quarter. Chicago Partners Investment Group LLC now owns 3,478 shares of the financial services provider's stock worth $437,000 after acquiring an additional 191 shares in the last quarter. Conning Inc. bought a new stake in shares of Iron Mountain in the third quarter worth about $213,000. Pure Financial Advisors LLC bought a new stake in shares of Iron Mountain in the third quarter worth about $409,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Iron Mountain in the third quarter worth about $80,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IRM shares. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Barclays cut their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and a consensus price target of $127.67.

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.