Daiwa Securities Group Inc. Has $309.77 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Daiwa Securities Group Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,947,121 shares of the financial services provider’s stock after selling 179,438 shares during the period. Iron Mountain makes up 1.4% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 20th biggest holding. Daiwa Securities Group Inc.’s holdings in Iron Mountain were worth $309,772,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after acquiring an additional 128,622 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock valued at $365,656,000 after purchasing an additional 92,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Captrust Financial Advisors lifted its position in Iron Mountain by 5.2% in the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after purchasing an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Iron Mountain by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock worth $95,726,000 after buying an additional 10,160 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IRM. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays dropped their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $127.67.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 343,114 shares of company stock worth $33,323,682 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $84.21 on Monday. The business’s fifty day moving average price is $100.25 and its two-hundred day moving average price is $111.02. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. Iron Mountain’s payout ratio is 514.75%.

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.