Mizuho Securities USA LLC Has $61.61 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

by · The Markets Daily

Mizuho Securities USA LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 2,193.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,501 shares of the financial services provider’s stock after buying an additional 495,898 shares during the period. Mizuho Securities USA LLC owned about 0.18% of Iron Mountain worth $61,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain in the second quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $36,000. Finally, Headlands Technologies LLC bought a new position in shares of Iron Mountain during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $114.87 on Friday. The company’s 50-day moving average is $119.57 and its 200 day moving average is $102.89. Iron Mountain Incorporated has a one year low of $61.59 and a one year high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company 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 dividend payout ratio is presently 794.47%.

Insider Activity

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

Wall Street Analyst Weigh In

IRM has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays boosted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $129.80.

Read Our Latest Stock Report on Iron Mountain

Iron Mountain Company Profile

(Free Report)

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.

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