Tokio Marine Asset Management Co. Ltd. Raises Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 36.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,341 shares of the financial services provider’s stock after buying an additional 2,768 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Iron Mountain were worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after buying an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter worth about $824,000. Merit Financial Group LLC lifted its holdings in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 0.9 %

Shares of Iron Mountain stock opened at $100.64 on Tuesday. The firm’s 50 day moving average price is $108.88 and its 200-day moving average price is $112.65. Iron Mountain Incorporated has a 52-week low of $66.20 and a 52-week high of $130.24. The company has a market cap of $29.53 billion, a P/E ratio of 279.57, a PEG ratio of 5.58 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.84%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This represents a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,016 shares of company stock valued at $13,666,427. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Finally, Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $130.83.

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.