Mitsubishi UFJ Trust & Banking Corp Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,522 shares of the financial services provider’s stock after selling 30,347 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Iron Mountain were worth $13,824,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Geller Advisors LLC raised its stake in shares of Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares during the period. Oregon Public Employees Retirement Fund raised its position in Iron Mountain by 0.4% in the fourth 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 lifted its stake in Iron Mountain by 3.9% during the fourth 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 in the last quarter. Mather Group LLC. boosted its position 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 buying an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC grew its stake in shares of 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 buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the 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 $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Down 0.5 %

Shares of NYSE:IRM opened at $85.07 on Friday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm’s 50 day moving average price is $94.97 and its 200 day moving average price is $108.39. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.52 earnings per share. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRM. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price target 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $125.67.

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.