Dai ichi Life Insurance Company Ltd Has $2.12 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Dai ichi Life Insurance Company Ltd lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,827 shares of the financial services provider’s stock after selling 487 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Iron Mountain were worth $2,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IRM. Legal & General Group Plc raised its stake in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC increased its position in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC increased its position in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IRM shares. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $131.00.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s 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 $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 over the last three months. 2.10% of the stock is owned by company insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $124.24 on Thursday. The firm has a market cap of $36.46 billion, a P/E ratio of 345.12, a P/E/G ratio of 7.26 and a beta of 0.99. The stock’s 50 day moving average is $120.06 and its 200 day moving average is $105.26. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a one year low of $62.95 and a one year high of $130.24.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

About Iron Mountain

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.