Sumitomo Mitsui Trust Holdings Inc. Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 963,359 shares of the financial services provider’s stock after purchasing an additional 12,656 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.33% of Iron Mountain worth $67,416,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC boosted its stake in shares of Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC lifted its stake in Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares during the period. Blue Trust Inc. lifted its stake in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. First Capital Advisors Group LLC. purchased a new stake in Iron Mountain in the second quarter worth $25,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on 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 objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $74.41 on Friday. Iron Mountain Incorporated has a 1-year low of $52.05 and a 1-year high of $82.19. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average price of $76.43 and a 200-day moving average price of $68.51. The company has a market capitalization of $21.75 billion, a PE ratio of 118.11, a PEG ratio of 4.49 and a beta of 0.94.

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). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.49%. Iron Mountain’s payout ratio is presently 412.70%.

Insider Activity

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock worth $12,698,221 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

About Iron Mountain

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.