William L. Meaney sells 15,875 shares of Iron Mountain Incorporated (NYSE:IRM) stock

Iron Mountain Incorporated (NYSE:IRM – Get Your Free Report ) CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website.

Iron Mountain trading up 1.4%

Shares of IRM stock traded up $1.65 on Wednesday, reaching $120.49. The company had a trading volume of 1,006,972 shares, compared to its average volume of 1,619,485. The firm has a market cap of $35.32 billion, a P/E ratio of 181.33, a P/E/G ratio of 7.09 and a beta of 1.00. The stock’s 50-day moving average is $112.92, and its two-hundred-day moving average is $94.54. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79, and a current ratio of 0.79. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $120.70.

Iron Mountain (NYSE:IRM – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 13.0% year over year. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain increases dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents an annualized dividend of $2.86 and a yield of 2.37%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Institutional investors are stepping in on Iron Mountain

Several large investors have recently added to or reduced their stakes in IRM. Cohen & Steers Inc. raised its holdings in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after purchasing an additional 475,849 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. AGF Management Ltd. boosted its holdings in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of equities analysts have issued reports on the company. Goldman Sachs Group boosted their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $113.00, according to MarketBeat.com.

See our latest report on IRM

Iron Mountain Company Profile

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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 enhance our customers’ workforce. Through a wide 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 companies bring light to their data dark, enabling customers to unlock value and intelligence from their stored digital and physical assets with speed and security, while helping them achieve their environmental goals.

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