Iron Mountain Incorporated (NYSE:IRM) CEO Sells $1,888,648.75 in Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Iron Mountain Price Performance

IRM stock opened at $113.16 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $33.21 billion, a PE ratio of 314.33, a P/E/G ratio of 6.86 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $61.59 and a 12-month high of $130.24. The business’s fifty day moving average price is $119.46 and its 200 day moving average price is $102.63.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.53%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Capital Wealth Management LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $202,000. Erste Asset Management GmbH purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $9,506,000. Adelante Capital Management LLC grew its stake in Iron Mountain by 89.8% during the 3rd quarter. Adelante Capital Management LLC now owns 29,658 shares of the financial services provider’s stock worth $3,524,000 after purchasing an additional 14,031 shares in the last quarter. Eventide Asset Management LLC grew its stake in Iron Mountain by 14.6% during the 3rd quarter. Eventide Asset Management LLC now owns 343,836 shares of the financial services provider’s stock worth $40,858,000 after purchasing an additional 43,923 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Iron Mountain by 5.2% during the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after purchasing an additional 47,327 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRM. Barclays lifted their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $129.80.

About Iron Mountain

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.