Tokio Marine Asset Management Co. Ltd. Makes New $900,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Tokio Marine Asset Management Co. Ltd. purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,573 shares of the financial services provider’s stock, valued at approximately $900,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Iron Mountain during the 1st quarter worth about $38,000. HBK Sorce Advisory LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $217,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Iron Mountain by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,522 shares of the financial services provider’s stock worth $13,581,000 after acquiring an additional 716 shares during the period. Catalytic Wealth RIA LLC bought a new stake in Iron Mountain in the 1st quarter valued at $1,109,000. Finally, Cynosure Group LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $306,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $114.87 on Friday. The company’s 50 day simple moving average is $119.57 and its 200 day simple moving average is $102.89. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99.

Iron Mountain Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRM shares. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $129.80.

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.