William L. Meaney Sells 15,875 Shares of Iron Mountain Incorporated (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Iron Mountain Stock Performance

Shares of IRM stock opened at $74.41 on Friday. Iron Mountain Incorporated has a 1-year low of $52.05 and a 1-year high of $82.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 118.11, a P/E/G ratio of 4.49 and a beta of 0.94. The stock’s fifty day simple moving average is $76.43 and its 200-day simple moving average is $68.51.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.49%. Iron Mountain’s dividend payout ratio is 412.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Iron Mountain in the first quarter valued at about $149,000. Allspring Global Investments Holdings LLC grew its stake in Iron Mountain by 21.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,953 shares of the financial services provider’s stock valued at $10,424,000 after purchasing an additional 22,715 shares in the last quarter. Oak Thistle LLC purchased a new position in Iron Mountain in the first quarter valued at about $244,000. Claro Advisors LLC purchased a new position in Iron Mountain in the first quarter valued at about $1,445,000. Finally, Cornerstone Wealth Group LLC purchased a new position in Iron Mountain in the first quarter valued at about $306,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRM shares. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays boosted their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

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.