Allspring Global Investments Holdings LLC Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Allspring Global Investments Holdings LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,238 shares of the financial services provider’s stock after acquiring an additional 22,280 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Iron Mountain were worth $7,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its position in shares of Iron Mountain by 92.2% during the 3rd quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC increased its position in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after buying an additional 419 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Iron Mountain in the second quarter valued at $25,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Iron Mountain during the fourth quarter valued at $26,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $75.15 on Thursday. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50 day moving average price of $76.31 and a 200 day moving average price of $68.47. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 119.29, a PEG ratio of 4.50 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $20,175,156. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IRM shares. Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company increased their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain 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.