Ballentine Partners LLC Has $641,000 Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Ballentine Partners LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 16.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,393 shares of the financial services provider’s stock after purchasing an additional 779 shares during the quarter. Ballentine Partners LLC’s holdings in Iron Mountain were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 100 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 107 shares in the last quarter. Csenge Advisory Group boosted its holdings in Iron Mountain by 1.2% during the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 114 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Iron Mountain by 2.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 117 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM stock opened at $127.70 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a 50 day moving average price of $117.12 and a 200 day moving average price of $98.45. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $130.24. The stock has a market capitalization of $37.46 billion, a PE ratio of 163.72, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. Analysts forecast 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 was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. Iron Mountain’s payout ratio is presently 366.67%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,503 shares of company stock worth $3,511,505. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IRM shares. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays boosted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.50.

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.