Allworth Financial LP Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Allworth Financial LP lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 65,378 shares of the financial services provider’s stock after acquiring an additional 1,028 shares during the period. Allworth Financial LP’s holdings in Iron Mountain were worth $5,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at approximately $102,000. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the 1st quarter worth approximately $30,000. Assenagon Asset Management S.A. increased its holdings in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock worth $993,000 after buying an additional 388 shares during the period. Miracle Mile Advisors LLC increased its holdings in Iron Mountain by 134.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock worth $649,000 after buying an additional 4,330 shares during the period. Finally, Sowell Financial Services LLC acquired a new position in Iron Mountain in the 1st quarter worth approximately $285,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director directly owned 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,007 shares of company stock worth $23,649,959 over the last 90 days. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on IRM shares. Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Barclays increased their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $121.71.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $99.01 on Friday. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 241.49 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm’s 50 day simple moving average is $99.80 and its 200-day simple moving average is $95.95.

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

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 yield of 3.17%. Iron Mountain’s dividend payout ratio is currently 765.85%.

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.