Nomura Asset Management Co. Ltd. Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Nomura Asset Management Co. Ltd. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,591 shares of the financial services provider's stock after purchasing an additional 18,296 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.16% of Iron Mountain worth $49,884,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IRM. Geller Advisors LLC boosted its holdings in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after purchasing an additional 106 shares in the last quarter. Mather Group LLC. raised its stake in Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC lifted its holdings in Iron Mountain by 1.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 119 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,979 shares of company stock valued at $30,666,904. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 1.2 %

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

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $0.52 EPS. As a group, sell-side 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. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.65%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.