Mizuho Securities USA LLC Purchases 495,898 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mizuho Securities USA LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2,193.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 518,501 shares of the financial services provider's stock after purchasing an additional 495,898 shares during the quarter. Mizuho Securities USA LLC owned about 0.18% of Iron Mountain worth $61,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the second quarter valued at $32,000. West Branch Capital LLC purchased a new position in Iron Mountain during the third quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $38,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 1.6 %

Shares of IRM stock traded up $1.76 during midday trading on Friday, reaching $114.88. 1,486,102 shares of the stock were exchanged, compared to its average volume of 1,605,212. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24. The firm has a market cap of $33.71 billion, a PE ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. The company's 50 day moving average is $119.57 and its two-hundred day moving average is $102.89. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on IRM. Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $129.80.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares of the company's stock, valued at $993,127.75. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,387 shares of company stock worth $6,971,838. Corporate insiders own 2.10% of the company's stock.

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.