Sumitomo Mitsui DS Asset Management Company Ltd Has $5.38 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 76,851 shares of the financial services provider’s stock after buying an additional 3,456 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $5,378,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Manchester Capital Management LLC raised its position in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after buying an additional 419 shares in the last quarter. Blue Trust Inc. raised its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Iron Mountain during the fourth quarter worth $26,000. Hanson & Doremus Investment Management acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $28,000. Finally, CVA Family Office LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at $32,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

NYSE IRM opened at $75.85 on Tuesday. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 120.40, a PEG ratio of 4.51 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The stock has a fifty day simple moving average of $76.70 and a 200 day simple moving average of $68.91.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. Sell-side analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock worth $12,698,221 over the last three months. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IRM. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

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.