Nomura Holdings Inc. Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Nomura Holdings Inc. acquired a new position in Iron Mountain Incorporated (NYSE:IRMFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 51,817 shares of the financial services provider’s stock, valued at approximately $3,626,000.

Other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. boosted its holdings in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Norges Bank bought a new position in Iron Mountain in the 4th quarter worth about $228,391,000. Wellington Management Group LLP grew its holdings in Iron Mountain by 315.2% during 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 in the last quarter. Daiwa Securities Group Inc. lifted its holdings 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 worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after acquiring an additional 1,178,754 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $0.29 during mid-day trading on Tuesday, reaching $88.56. 170,825 shares of the company were exchanged, compared to its average volume of 1,407,625. Iron Mountain Incorporated has a 52 week low of $53.74 and a 52 week high of $89.91. The company’s 50 day moving average price is $79.88 and its 200 day moving average price is $74.60. The stock has a market capitalization of $25.96 billion, a PE ratio of 133.74, a PEG ratio of 5.27 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,132 shares of company stock worth $4,856,653. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Read Our Latest Stock Analysis on IRM

About Iron Mountain

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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