Ballentine Partners LLC Has $327,000 Stake in Iron Mountain Incorporated (NYSE:IRM)

Ballentine Partners LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 18.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,077 shares of the financial services provider’s stock after purchasing an additional 631 shares during the quarter. Ballentine Partners LLC’s holdings in Iron Mountain were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth about $16,590,000. Goldman Sachs Group Inc. increased its holdings in Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Iron Mountain by 42.3% in the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after purchasing an additional 48,170 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock valued at $30,637,000 after buying an additional 27,551 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $88.54 on Wednesday. The business’s 50 day simple moving average is $81.40 and its 200 day simple moving average is $75.57. Iron Mountain Incorporated has a 12 month low of $53.97 and a 12 month high of $89.91. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 134.15, a PEG ratio of 5.26 and a beta of 0.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.94%. Iron Mountain’s payout ratio is 393.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling

In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the sale, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Walter C. Rakowich sold 954 shares of Iron Mountain stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,511 shares of company stock valued at $8,787,218. 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.