Mitsubishi UFJ Asset Management Co. Ltd. Acquires 45,569 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,443 shares of the financial services provider’s stock after buying an additional 45,569 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Iron Mountain worth $69,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC increased its position in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares during the period. Raymond James Financial Inc. bought a new position in Iron Mountain in the fourth quarter worth about $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in Iron Mountain by 158.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock worth $56,867,000 after buying an additional 331,536 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,979 shares of company stock valued at $30,666,904 over the last three months. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 0.5 %

NYSE:IRM opened at $85.07 on Friday. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 139.46, a PEG ratio of 5.15 and a beta of 1.04. The company’s 50 day moving average price is $94.97 and its 200-day moving average price is $108.39.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.69%. Iron Mountain’s payout ratio is currently 514.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRM shares. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays cut their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $125.67.

Iron Mountain 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.