Key Points
- CEO William Meaney sold 38,474 Iron Mountain shares at an average price of $121.67, totaling approximately $4.68 million. The Rule 10b5-1 transaction reduced his direct ownership by 50%.
- Iron Mountain announced a quarterly dividend of $0.864 per share, equivalent to an annualized $3.46 dividend and a 2.8% yield.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $135.17; the stock recently opened at $121.30.
Iron Mountain Incorporated (NYSE:IRM - Get Free Report) EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $122.70, for a total value of $736,200.00. Following the sale, the executive vice president owned 101,507 shares in the company, valued at approximately $12,454,908.90. The trade was a 5.58% decrease in their position. The sale was disclosed in a filing 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.
Mark Kidd also recently made the following trade(s):
- On Monday, June 1st, Mark Kidd sold 6,000 shares of Iron Mountain stock. The stock was sold at an average price of $126.70, for a total value of $760,200.00.
Iron Mountain Stock Performance
Shares of IRM opened at $121.30 on Tuesday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The business's 50 day moving average price is $124.73 and its two-hundred day moving average price is $115.21. The firm has a market cap of $36.09 billion, a PE ratio of 86.64 and a beta of 1.20.
Iron Mountain Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's payout ratio is presently 247.14%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. raised their target price on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Barclays boosted their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of "Moderate Buy" and a consensus price target of $135.17.
Check Out Our Latest Stock Analysis on Iron Mountain
Institutional Trading of Iron Mountain
Several institutional investors have recently made changes to their positions in IRM. BlackRock Inc. purchased a new stake in shares of Iron Mountain in the second quarter valued at about $4,240,342,000. Cohen & Steers Inc. boosted its position in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares during the last quarter. State Street Corp grew its stake in Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after purchasing an additional 322,144 shares during the period. Geode Capital Management LLC grew its stake in Iron Mountain by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock valued at $685,374,000 after purchasing an additional 102,073 shares during the period. Finally, Invesco Ltd. increased its position in shares of Iron Mountain by 18.1% during the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after purchasing an additional 776,933 shares during the last quarter. Institutional investors own 80.13% of the company's stock.
About Iron Mountain
(
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.
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