Iron Mountain Incorporated (NYSE:IRM) Stake Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,851 shares of the financial services provider’s stock after buying an additional 3,456 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $5,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Global Retirement Partners LLC boosted its stake in shares of Iron Mountain by 1.7% during the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after buying an additional 156 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Iron Mountain by 17.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after buying an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Iron Mountain by 2.8% in the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after buying an additional 177 shares during the last quarter. Federated Hermes Inc. raised its position in Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 179 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in Iron Mountain by 4.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Iron Mountain Trading Up 1.0 %

Iron Mountain stock opened at $75.85 on Tuesday. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $22.17 billion, a PE ratio of 120.40, a PEG ratio of 4.51 and a beta of 0.94. The business’s 50-day simple moving average is $76.70 and its 200-day simple moving average is $68.91.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.43%. Iron Mountain’s dividend payout ratio is 412.70%.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated 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 owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is currently owned by company insiders.

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.