Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 77,708 shares of the financial services provider’s stock after buying an additional 1,636 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Iron Mountain were worth $8,138,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IRM. Merit Financial Group LLC lifted its holdings in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $102,000. U.S. Capital Wealth Advisors LLC increased its position in Iron Mountain by 1,453.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock worth $11,878,000 after buying an additional 105,726 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Iron Mountain by 36.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 2,768 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target for the company. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $121.29.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,973 shares of company stock worth $29,112,345. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $99.38 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock’s 50-day simple moving average is $87.57 and its 200-day simple moving average is $100.51. The firm has a market cap of $29.32 billion, a price-to-earnings ratio of 162.92, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.16%. Iron Mountain’s payout ratio is 765.85%.

Iron Mountain 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.