Ballentine Partners LLC Purchases 779 Shares of Iron Mountain Incorporated (NYSE:IRM)

Ballentine Partners LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 16.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,393 shares of the financial services provider’s stock after buying an additional 779 shares during the period. Ballentine Partners LLC’s holdings in Iron Mountain were worth $641,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in Iron Mountain by 2.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after purchasing an additional 7,486 shares during the period. Friedenthal Financial acquired a new position in Iron Mountain in the 3rd quarter worth $824,000. Price T Rowe Associates Inc. MD boosted its stake in Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after purchasing an additional 12,540 shares during the period. Finally, Centersquare Investment Management LLC boosted its stake in Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the period. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IRM shares. JPMorgan Chase & Co. upped their target price 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. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays increased their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Trading Up 1.4 %

Iron Mountain 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 firm has a 50-day moving average of $117.12 and a 200-day moving average of $98.45. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 163.72, a P/E/G ratio of 7.42 and a beta of 1.00. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $130.24.

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). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. On average, equities analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.24%. 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. Iron Mountain’s dividend payout ratio is presently 366.67%.

Insider Activity

In other news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,503 shares of company stock valued at $3,511,505. 2.10% of the stock is owned by company insiders.

About Iron Mountain

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.