William Meaney Sells 98,659 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 98,659 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $107.36, for a total transaction of $10,592,030.24. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $105.17 on Friday. The company has a market cap of $31.11 billion, a PE ratio of 219.10 and a beta of 1.13. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $115.24. The company has a 50-day simple moving average of $96.83 and a 200-day simple moving average of $95.32.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Iron Mountain by 0.4% during the third quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider’s stock valued at $4,816,981,000 after acquiring an additional 188,213 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Iron Mountain by 20.0% in the 4th 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 period. State Street Corp raised its holdings in shares of 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 worth $1,759,494,000 after purchasing an additional 322,144 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 in the last quarter. Finally, Invesco Ltd. grew its holdings 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 worth $516,481,000 after purchasing an additional 776,933 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 target price on Iron Mountain in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $116.60.

About Iron Mountain

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.