State of Wisconsin Investment Board cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 243,659 shares of the financial services provider’s stock after selling 7,372 shares during the period. State of Wisconsin Investment Board owned 0.09% of Iron Mountain worth $8,372,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Iron Mountain by 2.1% in the first quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock valued at $1,542,644,000 after buying an additional 893,442 shares during the period. BlackRock Inc. boosted its stake in Iron Mountain by 3,761.9% in the first quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock valued at $643,048,000 after buying an additional 17,560,886 shares during the period. Parnassus Investments CA boosted its stake in Iron Mountain by 3.8% in the first quarter. Parnassus Investments CA now owns 11,942,837 shares of the financial services provider’s stock valued at $414,108,000 after buying an additional 441,458 shares during the period. State Street Corp boosted its stake in Iron Mountain by 3.1% in the first quarter. State Street Corp now owns 10,575,065 shares of the financial services provider’s stock valued at $377,212,000 after buying an additional 320,851 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in Iron Mountain by 9.2% in the first quarter. Epoch Investment Partners Inc. now owns 6,223,354 shares of the financial services provider’s stock valued at $221,986,000 after buying an additional 523,420 shares during the period. Institutional investors own 85.97% of the company’s stock.

Shares of Iron Mountain Incorporated (NYSE IRM) opened at 38.47 on Friday. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $39.75. The firm has a market cap of $10.17 billion, a PE ratio of 52.77 and a beta of 0.94. The stock has a 50 day moving average of $36.17 and a 200 day moving average of $35.51.

Iron Mountain (NYSE:IRM) last announced its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company had revenue of $950 million during the quarter, compared to analyst estimates of $955.05 million. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.72%. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.

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Several analysts have recently commented on IRM shares. BidaskClub upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG cut shares of Iron Mountain from a “hold” rating to a “sell” rating and reduced their target price for the stock from $41.00 to $30.00 in a research note on Wednesday, June 7th. Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the stock a “hold” rating in a research note on Friday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Iron Mountain currently has an average rating of “Hold” and an average target price of $36.50.

In related news, Director Walter C. Rakowich sold 1,552 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total value of $54,552.80. Following the transaction, the director now owns 15,074 shares in the company, valued at $529,851.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total value of $1,119,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,102 shares of company stock valued at $1,247,447. 1.50% of the stock is currently owned by corporate insiders.

About Iron Mountain

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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