Daiwa Securities Group Inc. Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

by · The Markets Daily

Daiwa Securities Group Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 30.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,126,559 shares of the financial services provider’s stock after selling 1,391,140 shares during the quarter. Iron Mountain accounts for about 1.7% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Daiwa Securities Group Inc.’s holdings in Iron Mountain were worth $371,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its stake in Iron Mountain by 34.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,344 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 3,906 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Iron Mountain by 13.8% in the first quarter. Bessemer Group Inc. now owns 6,461 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 781 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares in the last quarter. Captrust Financial Advisors grew its stake in Iron Mountain by 3.9% during the first quarter. Captrust Financial Advisors now owns 856,945 shares of the financial services provider’s stock valued at $68,736,000 after acquiring an additional 31,876 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Iron Mountain by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 30,788 shares of the financial services provider’s stock valued at $2,470,000 after purchasing an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 0.3 %

Shares of NYSE IRM opened at $119.10 on Friday. The stock has a 50 day moving average price of $119.86 and a 200 day moving average price of $104.48. The firm has a market capitalization of $34.95 billion, a price-to-earnings ratio of 330.83, a PEG ratio of 7.11 and a beta of 0.99. Iron Mountain Incorporated has a 52-week low of $62.58 and a 52-week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $129.40.

Read Our Latest Analysis on IRM

About Iron Mountain

(Free Report)

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.

See Also

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