Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.8% in the second quarter, Holdings Channel.com reports. The firm owned 4,241 shares of the financial services provider’s stock after purchasing an additional 117 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Iron Mountain were worth $380,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain in the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the second quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain during the first quarter valued at approximately $38,000. Family Firm Inc. purchased a new stake in Iron Mountain during the second quarter worth approximately $45,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth $36,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One 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 currently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,003 shares of company stock worth $3,352,406. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $115.36 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $118.46. The business has a 50 day moving average price of $108.27 and a two-hundred day moving average price of $91.24. The firm has a market cap of $33.82 billion, a PE ratio of 174.79, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.48%. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

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.