Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in Iron Mountain Incorporated (NYSE:IRM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657,443 shares of the financial services provider's stock after purchasing an additional 45,569 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.22% of Iron Mountain worth $69,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC increased its stake in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Iron Mountain by 158.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider's stock worth $56,867,000 after buying an additional 331,536 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 0.6 %

Shares of NYSE IRM traded up $0.51 during trading on Wednesday, reaching $87.40. 295,414 shares of the company traded hands, compared to its average volume of 2,137,214. The firm has a 50 day simple moving average of $94.03 and a 200-day simple moving average of $107.88. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The stock has a market capitalization of $25.67 billion, a PE ratio of 143.28, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results 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). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the firm posted $0.52 EPS. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.59%. Iron Mountain's dividend payout ratio is currently 514.75%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 172,552 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,979 shares of company stock valued at $30,666,904. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IRM shares. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company dropped 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. StockNews.com cut shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $125.67.

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.