Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.7% during the 4th quarter, according to the company in 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 quarter. Iron Mountain accounts for about 1.4% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 20th largest position. Daiwa Securities Group Inc. owned approximately 1.00% of Iron Mountain worth $309,772,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the 3rd quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter worth about $36,000. Finally, Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction 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 transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 343,114 shares of company stock valued at $33,323,682 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 1.7 %

Iron Mountain stock opened at $84.21 on Monday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The stock has a market cap of $24.74 billion, a P/E ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 1.04. The company’s fifty day simple moving average is $100.25 and its 200-day simple moving average is $111.02.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors 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. This represents a $3.14 annualized dividend and a yield of 3.73%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

Wall Street Analyst Weigh In

IRM has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.67.

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.