Allworth Financial LP Acquires 566 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Oct 5th, 2023

Allworth Financial LP grew its position in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 66.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,424 shares of the financial services provider’s stock after purchasing an additional 566 shares during the quarter. Allworth Financial LP’s holdings in Iron Mountain were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IRM. Simplicity Solutions LLC grew its holdings in shares of Iron Mountain by 16.6% during the first quarter. Simplicity Solutions LLC now owns 22,081 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 3,140 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Iron Mountain by 20.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,413 shares of the financial services provider’s stock valued at $181,000 after buying an additional 584 shares during the last quarter. Flputnam Investment Management Co. purchased a new stake in shares of Iron Mountain during the first quarter valued at $238,000. Securian Asset Management Inc. grew its holdings in shares of Iron Mountain by 0.9% during the first quarter. Securian Asset Management Inc. now owns 24,331 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 221 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Iron Mountain by 4.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 116,794 shares of the financial services provider’s stock valued at $6,636,000 after buying an additional 4,741 shares during the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $59.08, for a total value of $620,753.56. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $17,467,002. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $59.70, for a total value of $119,400.00. Following the completion of the sale, the executive vice president now owns 60,026 shares in the company, valued at approximately $3,583,552.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 10,507 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $59.08, for a total transaction of $620,753.56. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $17,467,002. The disclosure for this sale can be found here. Insiders sold a total of 89,761 shares of company stock worth $5,512,726 in the last 90 days. Insiders own 2.20% of the company’s stock.

Iron Mountain Stock Up 0.7 %

IRM opened at $57.65 on Thursday. Iron Mountain Incorporated has a twelve month low of $44.11 and a twelve month high of $64.48. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. The company has a 50-day moving average price of $61.28 and a 200 day moving average price of $57.41. The company has a market cap of $16.83 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 7th. StockNews.com started coverage on shares of Iron Mountain in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $58.00 to $68.00 in a report on Monday, August 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.75.

Get Our Latest Stock Analysis on IRM

Iron Mountain Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.