Nomura Asset Management Co. Ltd. Has $49.88 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Nomura Asset Management Co. Ltd. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 474,591 shares of the financial services provider’s stock after buying an additional 18,296 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Iron Mountain were worth $49,884,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geller Advisors LLC lifted its position in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 100 shares during the period. Premier Path Wealth Partners LLC boosted its position in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 106 shares during the last quarter. Mather Group LLC. grew its stake in shares of Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC increased its holdings in Iron Mountain by 1.0% in the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 119 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock valued at $30,666,904 in the last quarter. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IRM shares. Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Finally, Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Stock Down 0.5 %

Iron Mountain stock opened at $85.07 on Friday. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a 50 day moving average of $94.97 and a 200-day moving average of $108.39. The stock has a market capitalization of $24.99 billion, a PE ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.52 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.69%. Iron Mountain’s payout ratio is presently 514.75%.

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.