Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,888,648.75 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Iron Mountain Stock Down 2.4 %

Shares of IRM opened at $113.16 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $61.59 and a 12 month high of $130.24. The stock’s 50 day moving average is $119.46 and its two-hundred day moving average is $102.63. The firm has a market cap of $33.21 billion, a P/E ratio of 314.33, a PEG ratio of 6.86 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus raised 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, JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five equities research 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, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $129.80.

Institutional Trading of Iron Mountain

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter worth approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain in the second quarter worth approximately $32,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain in the second quarter worth approximately $36,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter worth approximately $36,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Company Profile

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.