Sumitomo Mitsui Trust Group Inc. Has $107.01 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 900,563 shares of the financial services provider’s stock after selling 3,293 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Iron Mountain were worth $107,014,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of IRM. Assenagon Asset Management S.A. raised its holdings in shares of Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. raised its holdings in shares of Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 100 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 107 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 114 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Iron Mountain by 2.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 117 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IRM shares. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays boosted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $129.80.

Insiders Place Their Bets

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,387 shares of company stock valued at $6,971,838 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 1.3 %

IRM stock opened at $115.97 on Thursday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The company has a fifty day moving average price of $119.38 and a two-hundred day moving average price of $102.56. Iron Mountain Incorporated has a one year low of $59.83 and a one year high of $130.24. The stock has a market cap of $34.03 billion, a price-to-earnings ratio of 322.15, a price-to-earnings-growth ratio of 6.86 and a beta of 0.99.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.47%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

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.