Iron Mountain (NYSE:IRM) CEO William Meaney Sells 38,474 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,474 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $3,951,664.54. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $3,951,664.54. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Stock Performance

IRM opened at $103.36 on Friday. The business has a 50 day moving average price of $102.49 and a 200 day moving average price of $96.74. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $115.24. The firm has a market cap of $30.75 billion, a P/E ratio of 215.34 and a beta of 1.13.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds have recently modified their holdings of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Iron Mountain by 4.5% during the 1st 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 purchasing an additional 1,286 shares during the last quarter. Empowered Funds LLC grew its position in Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 537 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock worth $2,129,000 after purchasing an additional 7,193 shares during the period. XTX Topco Ltd acquired a new position in shares of Iron Mountain during the second quarter valued at about $277,000. Finally, Quadrant Capital Group LLC raised its position in shares of Iron Mountain by 13.0% during the second quarter. Quadrant Capital Group LLC now owns 6,612 shares of the financial services provider’s stock valued at $678,000 after buying an additional 759 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a research report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus 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.