Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 5.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 120,891 shares of the financial services provider’s stock after selling 7,315 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Iron Mountain were worth $14,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IRM. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain in the second quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the second quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at $38,000. Finally, Family Firm Inc. purchased a new stake in Iron Mountain during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays increased their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insider Activity

In related news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on 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 owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,503 shares of company stock valued at $3,511,505. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.4 %

Shares of IRM opened at $127.70 on Friday. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $130.24. The firm has a market capitalization of $37.46 billion, a P/E ratio of 163.72, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock’s fifty day simple moving average is $117.12 and its 200 day simple moving average is $98.32.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 366.67%.

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.