Crossmark Global Holdings Inc. Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Crossmark Global Holdings Inc. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,028 shares of the financial services provider's stock after acquiring an additional 4,422 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Iron Mountain were worth $5,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC grew its stake in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Northern Trust Corp lifted its holdings in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares in the last quarter. Norges Bank purchased a new stake in Iron Mountain during the 4th quarter worth about $348,249,000. Finally, Nuveen Asset Management LLC lifted its holdings in Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRM. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Barclays raised their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and an average price target of $121.71.

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the sale, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock valued at $23,649,959 in the last 90 days. 1.90% of the stock is owned by insiders.

Iron Mountain Stock Down 1.0%

Shares of NYSE IRM traded down $1.03 during trading hours on Friday, reaching $97.93. 1,057,349 shares of the stock traded hands, compared to its average volume of 1,785,445. The company has a market capitalization of $28.89 billion, a P/E ratio of 238.85 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company's 50-day simple moving average is $99.85 and its two-hundred day simple moving average is $95.83.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. Iron Mountain's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. As a group, sell-side analysts forecast 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 given a dividend of $0.785 per share. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.21%. Iron Mountain's payout ratio is 765.85%.

About Iron Mountain

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.