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

Balboa Wealth Partners boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 92.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 have also recently bought and sold shares of IRM. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at about $26,000. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter worth approximately $36,000. Finally, Dunhill Financial LLC increased its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on IRM shares. Barclays reduced their price objective 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. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $127.67.

Iron Mountain Price Performance

IRM opened at $84.96 on Friday. The firm has a 50 day simple moving average of $99.06 and a 200 day simple moving average of $110.45. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company has a market cap of $24.96 billion, a price-to-earnings ratio of 139.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

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

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the 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 completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 in the last 90 days. 2.10% of the stock is owned by 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.