Insider Selling: Iron Mountain (NYSE:IRM) EVP Sells $736,200.00 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the sale, the executive vice president directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. The trade was a 5.58% decrease in their position. The transaction was disclosed in a 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.

Mark Kidd also recently made the following trade(s):

• On Monday, June 1st, Mark Kidd sold 6,000 shares of Iron Mountain stock. The shares were sold at an average price of $126.70, for a total transaction of $760,200.00.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $124.51 on Thursday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The firm has a market capitalization of $37.07 billion, a P/E ratio of 88.94 and a beta of 1.20. The company’s fifty day moving average price is $124.54 and its 200 day moving average price is $115.62.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s payout ratio is presently 247.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IRM shares. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Barclays lifted their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.17.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Iron Mountain in the 2nd quarter valued at $4,240,342,000. Cohen & Steers Inc. raised its position in Iron Mountain by 20.0% during 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 buying an additional 3,155,034 shares during the last quarter. State Street Corp raised its position in Iron Mountain by 1.9% during 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 buying an additional 322,144 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Iron Mountain by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after acquiring an additional 102,073 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after acquiring an additional 776,933 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Company Profile

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.