Allspring Global Investments Holdings LLC Sells 77,890 Shares of Iron Mountain Incorporated $IRM

Allspring Global Investments Holdings LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 69.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,891 shares of the financial services provider’s stock after selling 77,890 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Iron Mountain were worth $2,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Intact Investment Management Inc. bought a new position in Iron Mountain in the third quarter worth about $3,588,000. NewSquare Capital LLC raised its stake in Iron Mountain by 4,867.6% in the third quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider’s stock worth $1,205,000 after buying an additional 11,585 shares in the last quarter. Sei Investments Co. raised its stake in Iron Mountain by 4.2% in the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after buying an additional 35,301 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Iron Mountain by 17.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock worth $10,598,000 after buying an additional 15,225 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in Iron Mountain by 178.0% in the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock worth $2,262,000 after buying an additional 14,205 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 0.4%

NYSE:IRM opened at $104.75 on Wednesday. The company’s 50 day moving average price is $103.15 and its 200-day moving average price is $96.79. Iron Mountain Incorporated has a 52 week low of $74.69 and a 52 week high of $115.24. The stock has a market cap of $31.16 billion, a price-to-earnings ratio of 218.22 and a beta of 1.13.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were issued a $0.864 dividend. The ex-dividend date was Monday, March 16th. This represents a $3.46 annualized dividend and a yield of 3.3%. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $616,260.00. Following the sale, the executive vice president owned 125,507 shares in the company, valued at approximately $12,890,823.97. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at $3,951,664.54. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 451,648 shares of company stock worth $48,297,449. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Barclays upped their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price objective on shares of Iron Mountain in a report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

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.