Wasatch Advisors Inc. reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 62.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,506 shares of the financial services provider’s stock after selling 64,535 shares during the period. Wasatch Advisors Inc.’s holdings in Iron Mountain were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IRM. Ameriprise Financial Inc. boosted its stake in shares of Iron Mountain by 14.7% in the first quarter. Ameriprise Financial Inc. now owns 173,017 shares of the financial services provider’s stock valued at $6,180,000 after buying an additional 22,227 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Iron Mountain by 21.8% in the first quarter. OppenheimerFunds Inc. now owns 131,847 shares of the financial services provider’s stock valued at $4,703,000 after buying an additional 23,617 shares during the period. FMR LLC boosted its stake in shares of Iron Mountain by 6.0% in the first quarter. FMR LLC now owns 83,006 shares of the financial services provider’s stock valued at $2,961,000 after buying an additional 4,683 shares during the period. Teachers Advisors LLC boosted its stake in shares of Iron Mountain by 4.8% in the first quarter. Teachers Advisors LLC now owns 349,944 shares of the financial services provider’s stock valued at $12,483,000 after buying an additional 16,097 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Iron Mountain by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 37,651 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 2,396 shares during the period. Institutional investors and hedge funds own 87.49% of the company’s stock.

Shares of Iron Mountain Incorporated (NYSE IRM) opened at 40.88 on Friday. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $41.16. The company has a market capitalization of $10.81 billion, a PE ratio of 56.08 and a beta of 0.91. The firm’s 50-day moving average price is $39.49 and its 200 day moving average price is $36.50.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. During the same period last year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, September 14th. Iron Mountain’s payout ratio is 297.30%.

In other Iron Mountain news, EVP Theodore Maclean sold 1,500 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $38.13, for a total value of $57,195.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total transaction of $1,119,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,329 shares of company stock valued at $2,969,441. Insiders own 1.50% of the company’s stock.

Several equities research analysts recently issued reports on IRM shares. Robert W. Baird set a $39.00 price target on Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. BidaskClub upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research note on Sunday, September 3rd. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, October 9th. Finally, Evercore ISI initiated coverage on Iron Mountain in a research note on Wednesday. They set an “outperform” rating and a $46.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $40.40.

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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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