Mizuho Securities USA LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Mizuho Securities USA LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2,193.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 518,501 shares of the financial services provider’s stock after purchasing an additional 495,898 shares during the period. Mizuho Securities USA LLC’s holdings in Iron Mountain were worth $61,613,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. lifted its stake in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of 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 worth $116,356,000 after buying an additional 402,625 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Iron Mountain by 5.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock worth $105,348,000 after acquiring an additional 56,503 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 1.5 %

Iron Mountain stock opened at $114.87 on Friday. Iron Mountain Incorporated has a twelve month low of $61.59 and a twelve month high of $130.24. The business has a fifty day moving average of $119.57 and a two-hundred day moving average of $102.89. The firm has a market cap of $33.71 billion, a P/E ratio of 319.09, a P/E/G ratio of 6.95 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. 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, the stock currently has a consensus rating of “Buy” and an average price target of $129.80.

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.