Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney Sells 15,875 Shares

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Iron Mountain Stock Performance

NYSE:IRM traded down $2.94 during midday trading on Tuesday, hitting $114.50. The company’s stock had a trading volume of 1,724,606 shares, compared to its average volume of 1,608,773. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $58.55 and a fifty-two week high of $130.24. The firm’s 50 day moving average is $119.29 and its 200-day moving average is $102.21. The firm has a market cap of $33.60 billion, a P/E ratio of 322.37, a P/E/G ratio of 7.17 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.50%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays upped their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $129.80.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Centersquare Investment Management LLC grew its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the period. Legal & General Group Plc raised its holdings in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its holdings in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC grew its position in Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after acquiring an additional 495,898 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after buying an additional 445,207 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

About Iron Mountain

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.