Mizuho Securities USA LLC Has $2.92 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Mizuho Securities USA LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 46.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,813 shares of the financial services provider’s stock after acquiring an additional 8,792 shares during the quarter. Mizuho Securities USA LLC’s holdings in Iron Mountain were worth $2,923,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Key Financial Inc lifted its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth about $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the fourth quarter worth about $26,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred 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 directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,979 shares of company stock valued at $30,666,904 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Stock Performance

NYSE:IRM opened at $90.14 on Tuesday. The firm’s 50-day moving average is $96.65 and its 200-day moving average is $109.03. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 147.77, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $0.52 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.48%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

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.