Iron Mountain Incorporated (NYSE:IRM) Stake Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 412,871 shares of the financial services provider’s stock after acquiring an additional 7,210 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Iron Mountain were worth $28,893,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Iron Mountain in the 4th quarter valued at about $228,391,000. Wellington Management Group LLP boosted its position in shares of Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares during the period. Daiwa Securities Group Inc. grew its holdings in Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Ameriprise Financial Inc. increased its position in Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after acquiring an additional 1,178,754 shares during the period. Finally, Invesco Ltd. raised its stake in Iron Mountain by 49.7% during the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after acquiring an additional 1,077,339 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays boosted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 115,979 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,355 shares of company stock worth $11,663,526. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM stock traded up $0.95 on Friday, hitting $80.23. 651,298 shares of the company’s stock traded hands, compared to its average volume of 1,364,367. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 121.56, a P/E/G ratio of 4.80 and a beta of 0.96. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $83.00. The stock has a fifty day moving average of $78.52 and a 200-day moving average of $72.10.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 3.24%. Iron Mountain’s dividend payout ratio is currently 393.95%.

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.