Iron Mountain Incorporated $IRM Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 27.9% during the second quarter, Holdings Channel.com reports. The fund owned 6,889 shares of the financial services provider’s stock after buying an additional 1,501 shares during the period. Ballentine Partners LLC’s holdings in Iron Mountain were worth $707,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at about $26,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter valued at about $34,000. Finally, Wayfinding Financial LLC purchased a new position in Iron Mountain in the 1st quarter valued at about $37,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRM. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday. They issued a “buy” rating and a $120.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $116.83.

Iron Mountain Price Performance

IRM opened at $101.11 on Friday. The company’s 50 day simple moving average is $95.38 and its two-hundred day simple moving average is $94.27. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a market capitalization of $29.86 billion, a price-to-earnings ratio of 722.24 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $1.08 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $89.56, for a total value of $6,190,835.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Greg W. Mcintosh sold 17,334 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,709 shares of company stock valued at $22,555,809. Company insiders own 1.90% 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.