Iron Mountain Incorporated $IRM Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,014 shares of the financial services provider’s stock after purchasing an additional 2,049 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $9,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Focus Financial Network Inc. increased its stake in Iron Mountain by 7.4% during the second quarter. Focus Financial Network Inc. now owns 12,685 shares of the financial services provider’s stock worth $1,311,000 after purchasing an additional 875 shares during the period. Woodstock Corp increased its stake in Iron Mountain by 3.6% during the second quarter. Woodstock Corp now owns 55,378 shares of the financial services provider’s stock worth $5,680,000 after purchasing an additional 1,950 shares during the period. Czech National Bank increased its stake in Iron Mountain by 6.9% during the second quarter. Czech National Bank now owns 72,119 shares of the financial services provider’s stock worth $7,397,000 after purchasing an additional 4,652 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Iron Mountain by 5.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 7,434 shares of the financial services provider’s stock worth $763,000 after purchasing an additional 356 shares during the period. Finally, Atwood & Palmer Inc. increased its stake in Iron Mountain by 14.5% during the second quarter. Atwood & Palmer Inc. now owns 9,445 shares of the financial services provider’s stock worth $969,000 after purchasing an additional 1,195 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IRM shares. Barclays boosted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $120.17.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,709 shares of company stock valued at $22,555,809. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $98.99 on Friday. The company’s 50 day moving average price is $94.94 and its 200 day moving average price is $93.58. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 707.09 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

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.