Dai ichi Life Insurance Company Ltd Has $2.12 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Dai ichi Life Insurance Company Ltd lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,827 shares of the financial services provider’s stock after selling 487 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Iron Mountain were worth $2,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Legal & General Group Plc grew its holdings in shares of Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of 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 valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the last quarter. International Assets Investment Management LLC grew its position in Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Trading Up 0.5 %

IRM stock opened at $124.24 on Thursday. Iron Mountain Incorporated has a 52 week low of $62.95 and a 52 week high of $130.24. The company has a market capitalization of $36.46 billion, a PE ratio of 345.12, a price-to-earnings-growth ratio of 7.26 and a beta of 0.99. The company’s 50-day simple moving average is $120.06 and its 200 day simple moving average is $105.26. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. Iron Mountain’s payout ratio is presently 794.47%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

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.