Key Points
- CEO William Meaney sold 98,659 shares on March 4 at an average price of $107.36 for about $10.59M, leaving him with 98,657 shares and representing a 50.00% decrease in his position (SEC filing).
- Iron Mountain declared a quarterly dividend of $0.864 (annualized $3.46) with an ex-dividend/record date of March 16 and payment on April 3, implying a 3.3% yield but an unusually high payout ratio of 718.75%.
- The stock traded at $106.16 (one-year range $72.33–$115.24), sports a market cap of about $31.4B and a P/E around 221, and holds a consensus rating of Moderate Buy with an average price target of $116.60.
Iron Mountain Incorporated (NYSE:IRM - Get Free Report) CEO William Meaney sold 98,659 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $107.36, for a total value of $10,592,030.24. Following the transaction, the chief executive officer owned 98,657 shares in the company, valued at approximately $10,591,815.52. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Iron Mountain Price Performance
IRM traded down $1.14 during trading on Friday, hitting $106.16. The stock had a trading volume of 62,966 shares, compared to its average volume of 2,042,453. The company has a 50 day moving average price of $96.37 and a 200-day moving average price of $95.22. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $115.24. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 221.17 and a beta of 1.13.
Iron Mountain Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. Iron Mountain's dividend payout ratio is 718.75%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on IRM. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $100.00 to $111.00 and gave the company an "overweight" rating in a research note on Thursday, November 6th. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday. Four 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.60.
View Our Latest Analysis on IRM
Hedge Funds Weigh In On Iron Mountain
Several hedge funds and other institutional investors have recently modified their holdings of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Iron Mountain by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after buying an additional 1,286 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Iron Mountain by 10.3% in the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock worth $493,000 after acquiring an additional 537 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Iron Mountain by 41.0% in the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock worth $2,129,000 after acquiring an additional 7,193 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $209,000. Finally, Assetmark Inc. grew its holdings in shares of Iron Mountain by 104.3% during the 2nd quarter. Assetmark Inc. now owns 2,686 shares of the financial services provider's stock valued at $276,000 after purchasing an additional 1,371 shares during the last quarter. Institutional investors own 80.13% of the company's stock.
Iron Mountain Company Profile
(
Get Free Report)
Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.
Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
