Sumitomo Mitsui DS Asset Management Company Ltd Has $7.23 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,674 shares of the financial services provider’s stock after buying an additional 3,079 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $7,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter worth about $32,000. Transcendent Capital Group LLC purchased a new position in Iron Mountain during the fourth quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at approximately $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain in the 4th quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IRM shares. The Goldman Sachs Group increased their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.83.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total transaction of $77,588.82. Following the transaction, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The disclosure for this sale can be found here. Insiders have sold a total of 99,634 shares of company stock valued at $8,874,690 in the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.1 %

Shares of IRM stock opened at $113.27 on Friday. The business’s 50 day moving average is $101.52 and its two-hundred day moving average is $86.82. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $114.93. The company has a market cap of $33.20 billion, a PE ratio of 171.62, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business earned $0.94 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a dividend of $0.715 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.52%. Iron Mountain’s dividend payout ratio 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.