Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 657,443 shares of the financial services provider's stock after buying an additional 45,569 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Iron Mountain worth $69,492,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IRM. Wealthfront Advisers LLC boosted its stake in Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $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 boosted its position in shares of Iron Mountain by 537.0% in the 3rd 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 during the period. TD Asset Management Inc. grew its stake in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after buying an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Iron Mountain during the fourth quarter worth approximately $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in Iron Mountain by 158.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider's stock valued at $56,867,000 after buying an additional 331,536 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

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Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 1.2 %

Shares of NYSE:IRM traded up $1.04 during midday trading on Monday, hitting $86.14. 2,368,331 shares of the stock were exchanged, compared to its average volume of 1,765,926. The stock has a market cap of $25.30 billion, a P/E ratio of 141.21, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a 50 day moving average price of $94.97 and a 200-day moving average price of $108.31.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, Barclays lowered their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $125.67.

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.