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 company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Iron Mountain Stock Performance

Iron Mountain stock traded up $2.04 during trading hours on Wednesday, hitting $95.17. The stock had a trading volume of 1,362,801 shares, compared to its average volume of 1,586,361. The company has a 50-day moving average of $84.27 and a two-hundred day moving average of $77.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The company has a market cap of $27.90 billion, a PE ratio of 141.55, a price-to-earnings-growth ratio of 5.50 and a beta of 0.98. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $95.24.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.73%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

Hedge Funds Weigh In On Iron Mountain

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in shares of Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after buying an additional 242 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter worth approximately $36,000. CVA Family Office LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $32,000. Finally, Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the 1st quarter worth approximately $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IRM shares. The Goldman Sachs Group upped their price target on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus increased their target price on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.83.

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.