Insider Selling: Iron Mountain (NYSE:IRM) CEO Sells $7,102,593.75 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Iron Mountain Stock Up 3.3%

IRM opened at $104.18 on Friday. The company’s 50-day moving average price is $101.18 and its 200 day moving average price is $98.33. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The firm has a market cap of $30.77 billion, a price-to-earnings ratio of 744.19 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.Iron Mountain’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be given a $0.864 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is 592.45%.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its stake in shares of Iron Mountain by 3.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock worth $310,000 after buying an additional 103 shares in the last quarter. Continuum Advisory LLC raised its position in Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 104 shares in the last quarter. Natural Investments LLC raised its position in Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 107 shares in the last quarter. Whittier Trust Co. lifted its holdings in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 108 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of Iron Mountain by 0.5% during the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock valued at $2,032,000 after purchasing an additional 109 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Barclays increased their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lifted their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $118.67.

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.