Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in Iron Mountain Incorporated (NYSE:IRM) by 60.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,086,316 shares of the financial services provider’s stock after buying an additional 1,546,592 shares during the quarter. Iron Mountain accounts for 1.8% of Daiwa Securities Group Inc.’s holdings, making the stock its 13th largest holding. Daiwa Securities Group Inc. owned approximately 1.40% of Iron Mountain worth $285,960,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IRM. Moneta Group Investment Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $224,698,000. Wellington Management Group LLP grew its stake in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $97,752,000. Ameriprise Financial Inc. grew its stake in shares of Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after buying an additional 1,178,754 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after buying an additional 1,077,339 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock valued at $12,698,221 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRM. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Stifel Nicolaus lifted their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Stock Performance

IRM stock traded up $0.44 during trading on Wednesday, hitting $75.15. The company had a trading volume of 1,244,518 shares, compared to its average volume of 1,443,350. The firm has a market cap of $21.96 billion, a PE ratio of 118.59, a price-to-earnings-growth ratio of 4.50 and a beta of 0.94. Iron Mountain Incorporated has a 1-year low of $52.05 and a 1-year high of $82.19. The firm has a 50-day moving average price of $76.16 and a 200-day moving average price of $68.42. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Iron Mountain 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.