Crossmark Global Holdings Inc. Lowers Stake in Iron Mountain Incorporated $IRM

Crossmark Global Holdings Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 77.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,019 shares of the financial services provider’s stock after selling 50,774 shares during the period. Crossmark Global Holdings Inc.’s holdings in Iron Mountain were worth $1,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC increased its position in shares of Iron Mountain by 5.9% during the third quarter. Orion Porfolio Solutions LLC now owns 8,439 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 473 shares during the period. NewSquare Capital LLC boosted its holdings in shares of 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 valued at $1,205,000 after purchasing an additional 11,585 shares during the period. Dimensional Fund Advisors LP grew its stake in Iron Mountain by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 4,348,039 shares of the financial services provider’s stock worth $443,222,000 after purchasing an additional 55,273 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in Iron Mountain by 11.9% in the third quarter. Elo Mutual Pension Insurance Co now owns 30,150 shares of the financial services provider’s stock worth $3,073,000 after purchasing an additional 3,217 shares in the last quarter. Finally, Trivium Point Advisory LLC increased its holdings in Iron Mountain by 9.8% during the 3rd quarter. Trivium Point Advisory LLC now owns 7,740 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 692 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, Director Jennifer Allerton sold 7,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $108.88, for a total transaction of $762,160.00. Following the sale, the director directly owned 11,541 shares of the company’s stock, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 293,274 shares of company stock valued at $30,697,937. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IRM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Loop Capital set a $130.00 target price on shares of Iron Mountain in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.60.

Iron Mountain Price Performance

Iron Mountain stock opened at $105.17 on Monday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24. The business has a fifty day moving average price of $96.83 and a 200-day moving average price of $95.37. The stock has a market capitalization of $31.11 billion, a price-to-earnings ratio of 219.10 and a beta of 1.13.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. Iron Mountain’s dividend payout ratio is currently 718.75%.

Iron Mountain 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.