Nomura Holdings Inc. Increases Position in Iron Mountain Incorporated $IRM

Key Points

• Nomura Holdings Inc. increased its stake in Iron Mountain by 70.4%, now owning a total of 74,514 shares valued at approximately $6.41 million.
• Insider sales included EVP Mark Kidd selling 6,000 shares for over $612,000, resulting in a 6.18% decrease in his ownership.
• Iron Mountain announced a quarterly dividend of $0.785, with an annual yield of 3.4%, to be paid on October 3rd.

Nomura Holdings Inc. boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,514 shares of the financial services provider's stock after buying an additional 30,780 shares during the period. Nomura Holdings Inc.'s holdings in Iron Mountain were worth $6,411,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IRM. Nuveen LLC purchased a new stake in Iron Mountain during the 1st quarter worth approximately $192,231,000. Point72 Asset Management L.P. increased its stake in Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after buying an additional 978,251 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after buying an additional 715,024 shares in the last quarter. Principal Financial Group Inc. increased its stake in Iron Mountain by 117.7% during the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock worth $77,796,000 after buying an additional 488,816 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Iron Mountain during the 4th quarter worth approximately $39,687,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,709 shares of company stock valued at $22,555,809. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on IRM. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $120.17.

Iron Mountain Stock Up 1.1%

Shares of Iron Mountain stock traded up $1.04 on Friday, hitting $92.12. 1,071,071 shares of the company were exchanged, compared to its average volume of 1,198,842. The stock has a market capitalization of $27.21 billion, a price-to-earnings ratio of 658.05 and a beta of 1.08. The company has a 50-day moving average price of $95.38 and a 200 day moving average price of $93.23. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. Iron Mountain's dividend payout ratio is currently 2,242.86%.

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.