Sumitomo Mitsui Trust Holdings Inc. Has $76.70 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 956,189 shares of the financial services provider’s stock after selling 7,170 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.33% of Iron Mountain worth $76,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Norges Bank acquired a new position in Iron Mountain during the 4th quarter worth about $228,391,000. Wellington Management Group LLP grew its position in shares of Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after buying an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after buying an additional 1,546,592 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Iron Mountain by 214.7% during the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.33.

Iron Mountain Trading Up 1.0 %

NYSE:IRM opened at $91.78 on Friday. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $92.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $26.90 billion, a price-to-earnings ratio of 139.06, a PEG ratio of 5.38 and a beta of 0.98. The firm has a fifty day simple moving average of $83.38 and a two-hundred day simple moving average of $76.57.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $77.80, for a total transaction of $155,600.00. Following the transaction, the executive vice president now directly owns 63,286 shares in the company, valued at $4,923,650.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,053 shares of company stock worth $8,272,681. Corporate insiders own 2.10% of the company’s stock.

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.