Sumitomo Mitsui DS Asset Management Company Ltd Acquires 3,995 Shares of Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 7.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 54,247 shares of the financial services provider’s stock after purchasing an additional 3,995 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $2,641,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in IRM. GHP Investment Advisors Inc. purchased a new stake in Iron Mountain in the 1st quarter worth about $26,000. SJS Investment Consulting Inc. purchased a new stake in Iron Mountain in the 1st quarter worth about $28,000. Hazlett Burt & Watson Inc. purchased a new stake in Iron Mountain in the 1st quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new stake in Iron Mountain in the 1st quarter worth about $32,000. Finally, Tcwp LLC purchased a new stake in Iron Mountain in the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 76.80% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent research reports. StockNews.com lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, August 20th. Barclays began coverage on Iron Mountain in a report on Friday, June 24th. They set an “overweight” rating and a $58.00 target price for the company. Finally, Evercore ISI lifted their target price on Iron Mountain to $63.00 in a report on Monday, August 22nd.

Insider Activity

In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $47.50, for a total transaction of $53,437.50. Following the completion of the sale, the executive vice president now owns 52,532 shares in the company, valued at approximately $2,495,270. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $47.50, for a total transaction of $53,437.50. Following the completion of the sale, the executive vice president now owns 52,532 shares in the company, valued at approximately $2,495,270. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 5,800 shares of Iron Mountain stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $52.95, for a total value of $307,110.00. Following the sale, the executive vice president now owns 6,355 shares of the company’s stock, valued at approximately $336,497.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,175 shares of company stock worth $481,845. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Down 4.4 %

IRM stock opened at $47.94 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 15.33. The firm has a market capitalization of $13.93 billion, a PE ratio of 38.05, a PEG ratio of 3.53 and a beta of 0.75. Iron Mountain Incorporated has a twelve month low of $41.67 and a twelve month high of $58.61. The stock has a 50-day simple moving average of $51.69 and a two-hundred day simple moving average of $51.82.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.618 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.16%. Iron Mountain’s dividend payout ratio (DPR) is presently 196.03%.

Iron Mountain Company Profile

(Get Rating)

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Further Reading

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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