Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,863,090.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Iron Mountain Stock Down 1.2 %

Shares of NYSE IRM opened at $119.02 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $120.70. The stock has a market capitalization of $34.89 billion, a P/E ratio of 180.33, a PEG ratio of 7.09 and a beta of 1.00. The stock’s fifty day moving average is $113.47 and its 200 day moving average is $94.89.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays raised their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $113.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IRM. State Board of Administration of Florida Retirement System boosted its stake in shares of Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after purchasing an additional 7,486 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Iron Mountain by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after acquiring an additional 59,381 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the period. Institutional investors own 80.13% of the company’s stock.

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.