Daiwa Securities Group Inc. Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

Daiwa Securities Group Inc. reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,517,699 shares of the financial services provider’s stock after selling 44,466 shares during the quarter. Iron Mountain comprises approximately 2.2% of Daiwa Securities Group Inc.’s portfolio, making the stock its 11th biggest holding. Daiwa Securities Group Inc. owned approximately 1.54% of Iron Mountain worth $404,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the 2nd quarter valued at about $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the second quarter valued at approximately $36,000. Heritage Wealth Advisors acquired a new stake in Iron Mountain during the fourth quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new position in Iron Mountain in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $110.38 on Tuesday. The company has a market cap of $32.36 billion, a PE ratio of 167.24, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a 50-day moving average price of $104.18 and a two-hundred day moving average price of $88.89. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $114.93.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Edward Baker-Greene sold 6,200 shares of Iron Mountain stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00. Following the sale, the executive vice president now owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. In the last three months, insiders sold 82,805 shares of company stock valued at $7,510,750. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IRM. Wells Fargo & Company raised their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

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.