Balboa Wealth Partners Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Balboa Wealth Partners acquired a new position in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,100 shares of the financial services provider’s stock, valued at approximately $250,000.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Iron Mountain during the first quarter valued at $38,000. HBK Sorce Advisory LLC acquired a new position in Iron Mountain during the 1st quarter valued at about $217,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Iron Mountain by 0.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,522 shares of the financial services provider’s stock valued at $13,581,000 after purchasing an additional 716 shares during the last quarter. Catalytic Wealth RIA LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $1,109,000. Finally, Cynosure Group LLC bought a new stake in shares of Iron Mountain during the first quarter worth approximately $306,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.5 %

NYSE:IRM opened at $114.87 on Friday. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24. The stock has a 50-day moving average price of $119.57 and a two-hundred day moving average price of $102.89. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 319.09, a PEG ratio of 6.95 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. Iron Mountain’s dividend payout ratio is presently 794.47%.

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.