Balboa Wealth Partners Has $424,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

Balboa Wealth Partners raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 92.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,031 shares of the financial services provider’s stock after acquiring an additional 1,931 shares during the quarter. Balboa Wealth Partners’ holdings in Iron Mountain were worth $424,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. Ashton Thomas Private Wealth LLC raised its holdings in Iron Mountain by 40.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 651 shares during the period. Savvy Advisors Inc. acquired a new stake in Iron Mountain during the third quarter worth approximately $209,000. MQS Management LLC bought a new stake in shares of Iron Mountain during the third quarter worth approximately $205,000. Finally, Oppenheimer & Co. Inc. grew its position in shares of Iron Mountain by 36.1% in the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Stock Down 1.7 %

Shares of Iron Mountain stock opened at $84.96 on Friday. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 139.28, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company’s fifty day moving average is $99.06 and its 200 day moving average is $110.45.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.70%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,242 shares of company stock worth $31,530,305. Company insiders own 2.10% of the company’s stock.

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.