William Meaney Sells 38,482 Shares of Iron Mountain (NYSE:IRM) Stock

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 38,482 shares of Iron Mountain stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Iron Mountain Stock Up 1.4%

NYSE IRM traded up $1.16 during trading hours on Tuesday, hitting $84.83. 2,020,423 shares of the stock were exchanged, compared to its average volume of 2,159,371. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 160.06 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $112.18. The stock has a 50-day moving average of $88.40 and a 200 day moving average of $94.98.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be issued a dividend of $0.864 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is currently 650.94%.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC purchased a new position in Iron Mountain during the 3rd quarter valued at about $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Iron Mountain in the third quarter valued at about $32,000. Wealth Watch Advisors INC acquired a new stake in shares of Iron Mountain in the third quarter valued at approximately $44,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Iron Mountain during the 2nd quarter worth approximately $51,000. Finally, Washington Trust Advisors Inc. purchased a new position in shares of Iron Mountain during the 3rd quarter worth approximately $54,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IRM. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Barclays increased their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.80.

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.