Mitsubishi UFJ Trust & Banking Corp Sells 30,347 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 131,522 shares of the financial services provider's stock after selling 30,347 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Iron Mountain were worth $13,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in Iron Mountain by 47.4% in the 3rd quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider's stock valued at $3,489,000 after acquiring an additional 9,442 shares during the last quarter. Larson Financial Group LLC grew its position in Iron Mountain by 29.8% during the third quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 128 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Iron Mountain in the third quarter valued at approximately $271,000. Loomis Sayles & Co. L P raised its position in Iron Mountain by 3,253.8% in the third quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 846 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Iron Mountain by 2.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider's stock valued at $24,912,000 after buying an additional 4,150 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IRM shares. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, Barclays cut their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $125.67.

Iron Mountain Stock Up 1.2 %

Shares of IRM traded up $1.04 during trading hours on Monday, reaching $86.14. The stock had a trading volume of 2,368,331 shares, compared to its average volume of 1,765,926. The company has a market cap of $25.30 billion, a P/E ratio of 141.21, a P/E/G ratio of 5.15 and a beta of 1.04. The firm has a 50-day moving average of $94.97 and a 200 day moving average of $108.31. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm earned $0.52 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.

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.