Tokio Marine Asset Management Co. Ltd. Takes $900,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, Holdings Channel.com reports. The fund bought 7,573 shares of the financial services provider’s stock, valued at approximately $900,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Iron Mountain during the 1st quarter worth about $38,000. HBK Sorce Advisory LLC acquired a new stake in Iron Mountain in the first quarter worth $217,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Iron Mountain by 0.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,522 shares of the financial services provider’s stock valued at $13,581,000 after purchasing an additional 716 shares during the period. Catalytic Wealth RIA LLC purchased a new stake in shares of Iron Mountain in the first quarter worth approximately $1,109,000. Finally, Cynosure Group LLC bought a new stake in Iron Mountain during the first quarter worth $306,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,387 shares of company stock worth $6,971,838. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IRM. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays increased their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $129.80.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $114.87 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a fifty day simple moving average of $119.57 and a two-hundred day simple moving average of $102.89. Iron Mountain Incorporated has a 1-year low of $61.59 and a 1-year high of $130.24. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. Iron Mountain’s payout ratio is 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.