William Meaney Sells 69,125 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 69,125 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Iron Mountain Trading Up 1.7%

Shares of Iron Mountain stock opened at $105.08 on Friday. The firm has a market capitalization of $31.03 billion, a P/E ratio of 750.60 and a beta of 1.06. The business has a fifty day simple moving average of $95.72 and a two-hundred day simple moving average of $94.86. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is currently 2,242.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Saturday, September 27th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $116.83.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Norges Bank bought a new position in Iron Mountain in the 2nd quarter valued at approximately $419,457,000. Nuveen LLC bought a new position in shares of Iron Mountain during the 1st quarter valued at $192,231,000. Invesco Ltd. lifted its holdings in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after buying an additional 1,440,629 shares during the period. Contour Asset Management LLC bought a new position in shares of Iron Mountain during the 1st quarter valued at $122,801,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after buying an additional 913,715 shares during the period. 80.13% of the stock is owned by institutional investors.

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.