Allspring Global Investments Holdings LLC Has $9.35 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Allspring Global Investments Holdings LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,640 shares of the financial services provider’s stock after selling 9,622 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Iron Mountain were worth $9,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Border to Coast Pensions Partnership Ltd boosted its position in shares of Iron Mountain by 4.3% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 480,000 shares of the financial services provider’s stock worth $41,299,000 after buying an additional 20,000 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Iron Mountain by 5.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 20,206 shares of the financial services provider’s stock valued at $1,739,000 after purchasing an additional 1,039 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Iron Mountain by 7.0% during the first quarter. Sequoia Financial Advisors LLC now owns 8,873 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 580 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Iron Mountain during the first quarter valued at $30,000. Finally, Vectors Research Management LLC boosted its position in Iron Mountain by 9.4% during the first quarter. Vectors Research Management LLC now owns 42,076 shares of the financial services provider’s stock valued at $3,620,000 after purchasing an additional 3,623 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the transaction, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,007 shares of company stock valued at $23,649,959. Company insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $101.53 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The business has a 50-day moving average of $98.73 and a two-hundred day moving average of $96.13. The stock has a market capitalization of $29.95 billion, a P/E ratio of 247.62 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. Iron Mountain’s payout ratio is presently 765.85%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IRM. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays lifted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $121.71.

Iron Mountain Company Profile

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.