Daiwa Securities Group Inc. Boosts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Daiwa Securities Group Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 60.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,086,316 shares of the financial services provider's stock after acquiring an additional 1,546,592 shares during the quarter. Iron Mountain makes up about 1.8% of Daiwa Securities Group Inc.'s holdings, making the stock its 13th biggest holding. Daiwa Securities Group Inc. owned about 1.40% of Iron Mountain worth $285,960,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in Iron Mountain by 15.1% during the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider's stock worth $137,000 after purchasing an additional 328 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Iron Mountain by 71.3% during the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider's stock worth $1,028,000 after purchasing an additional 7,719 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Iron Mountain by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider's stock worth $2,147,000 after purchasing an additional 2,399 shares in the last quarter. APG Asset Management N.V. raised its holdings in Iron Mountain by 13.0% during the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider's stock worth $907,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Iron Mountain by 52.8% during the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider's stock worth $419,000 after purchasing an additional 2,608 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

IRM stock traded up $0.44 on Wednesday, hitting $75.15. The company's stock had a trading volume of 1,244,518 shares, compared to its average volume of 1,443,350. The firm has a 50 day moving average of $76.31 and a two-hundred day moving average of $68.47. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 119.29, a price-to-earnings-growth ratio of 4.50 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the company earned $0.98 EPS. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.46%. Iron Mountain's payout ratio is currently 412.70%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Mark Kidd sold 4,458 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now directly owns 62,938 shares of the company's stock, valued at approximately $5,048,256.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Daniel Borges sold 996 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. TheStreet cut shares of Iron Mountain from a "b" rating to a "c" rating in a report on Thursday, February 22nd. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, March 15th. Finally, Stifel Nicolaus upped their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.80.

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.