Nomura Holdings Inc. Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Nomura Holdings Inc. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 88.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,734 shares of the financial services provider’s stock after purchasing an additional 20,551 shares during the period. Nomura Holdings Inc.’s holdings in Iron Mountain were worth $4,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc boosted its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the fourth quarter worth about $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its position in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $99.38 on Friday. The company’s fifty day moving average price is $87.57 and its two-hundred day moving average price is $100.51. The firm has a market capitalization of $29.32 billion, a P/E ratio of 162.92, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.16%. Iron Mountain’s dividend payout ratio (DPR) is 765.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IRM shares. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price on the stock. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Barclays lowered their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $121.29.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,112,345 over the last 90 days. Insiders own 2.10% of the company’s stock.

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.