Nomura Asset Management Co. Ltd. Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Nomura Asset Management Co. Ltd. increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,871 shares of the financial services provider’s stock after acquiring an additional 7,210 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.14% of Iron Mountain worth $28,893,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its position in shares of Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the last quarter. Blue Trust Inc. increased 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 acquiring an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at $26,000. CVA Family Office LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth about $32,000. Finally, Muzinich & Co. Inc. purchased a new position in shares of Iron Mountain during the 3rd quarter worth about $35,000. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,355 shares of company stock valued at $11,663,526. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

IRM traded up $0.95 during midday trading on Friday, hitting $80.23. 651,298 shares of the company were exchanged, compared to its average volume of 1,364,367. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 121.56, a price-to-earnings-growth ratio of 4.80 and a beta of 0.96. The company’s 50 day simple moving average is $78.52 and its 200 day simple moving average is $72.10. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $83.00.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.24%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IRM shares. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays raised their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.