Iron Mountain (NYSE:IRM) CEO William Meaney Sells 38,474 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,474 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $105.72, for a total value of $4,067,471.28. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,067,471.28. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Trading Up 4.1%

IRM traded up $4.40 during trading on Monday, reaching $110.92. The stock had a trading volume of 2,110,823 shares, compared to its average volume of 1,720,817. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 72.49 and a beta of 1.18. The stock’s 50 day moving average is $113.75 and its two-hundred day moving average is $115.38. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $134.68.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, November 5th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Iron Mountain had a net margin of 5.88% and a negative return on equity of 79.98%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 EPS. On average, equities research analysts predict that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Tuesday, December 15th will be given a dividend of $0.9930 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $3.97 dividend on an annualized basis and a yield of 3.6%. Iron Mountain’s dividend payout ratio is 259.48%.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at about $4,240,342,000. Principal Financial Group Inc. grew its holdings in shares of Iron Mountain by 8.5% during the first quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after buying an additional 358,497 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Iron Mountain by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock valued at $464,931,000 after buying an additional 122,927 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Iron Mountain by 29,674.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock valued at $403,379,000 after acquiring an additional 3,182,834 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IRM shares. BNP Paribas Exane upped their price objective on shares of Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Jefferies Financial Group lowered their target price on shares of Iron Mountain from $147.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 12th. Weiss Ratings lowered shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Barclays boosted their price target on Iron Mountain from $143.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Finally, Rothschild & Co Redburn started coverage on Iron Mountain in a research note on Monday, September 21st. They issued a “buy” rating and a $132.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.33.

Iron Mountain Company Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions.

The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.

Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.