Insider Selling: Iron Mountain Incorporated (NYSE:IRM) CEO Sells 15,875 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded up $0.17 during trading hours on Wednesday, reaching $74.88. The stock had a trading volume of 530,141 shares, compared to its average volume of 1,433,155. The stock’s 50 day moving average is $76.16 and its 200 day moving average is $68.42. The firm has a market capitalization of $21.89 billion, a PE ratio of 118.59, a PEG ratio of 4.50 and a beta of 0.94. Iron Mountain Incorporated has a twelve month low of $52.05 and a twelve month high of $82.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. Iron Mountain’s dividend payout ratio is currently 412.70%.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently modified their holdings of the stock. First Capital Advisors Group LLC. purchased a new stake in shares of Iron Mountain during the second quarter worth about $25,000. Harbor Investment Advisory LLC increased its stake in shares of Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC grew its stake in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 419 shares in the last quarter. Blue Trust Inc. grew its stake in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Finally, Compass Wealth Management LLC purchased a new stake in Iron Mountain during the 4th quarter valued at about $26,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IRM shares. Barclays raised their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company raised their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus raised their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.80.

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.