RS Investment Management Co. LLC decreased its position in Iron Mountain Inc. (NYSE:IRM) by 45.4% during the second quarter, Holdings Channel reports. The institutional investor owned 830,734 shares of the company’s stock after selling 690,818 shares during the period. RS Investment Management Co. LLC’s holdings in Iron Mountain were worth $33,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRM. Canada Pension Plan Investment Board increased its position in shares of Iron Mountain by 1.0% in the first quarter. Canada Pension Plan Investment Board now owns 10,011 shares of the company’s stock valued at $339,000 after buying an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock valued at $142,000 after buying an additional 351 shares during the period. Aviva PLC increased its position in shares of Iron Mountain by 0.9% in the first quarter. Aviva PLC now owns 95,750 shares of the company’s stock valued at $3,247,000 after buying an additional 828 shares during the period. Terra Nova Asset Management LLC increased its position in shares of Iron Mountain by 4.7% in the first quarter. Terra Nova Asset Management LLC now owns 22,345 shares of the company’s stock valued at $758,000 after buying an additional 1,000 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of Iron Mountain by 3.6% in the second quarter. Raymond James Trust N.A. now owns 33,590 shares of the company’s stock valued at $1,338,000 after buying an additional 1,159 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Iron Mountain Inc. (NYSE:IRM) traded up 1.35% during mid-day trading on Thursday, hitting $37.42. The stock had a trading volume of 1,227,048 shares. Iron Mountain Inc. has a 12-month low of $23.64 and a 12-month high of $41.50. The company has a 50-day moving average of $37.46 and a 200-day moving average of $36.79. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 106.01 and a beta of 0.67.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The firm had revenue of $883.70 million for the quarter, compared to analyst estimates of $884.46 million. During the same quarter in the previous year, the company earned $0.28 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, analysts anticipate that Iron Mountain Inc. will post $2.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.18%. The ex-dividend date is Thursday, September 8th. Iron Mountain’s payout ratio is currently 510.54%.

Several research analysts have weighed in on IRM shares. Piper Jaffray Cos. reiterated a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a research note on Friday, June 17th. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, June 21st. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. TheStreet downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.00.

In other Iron Mountain news, VP Edward Bicks sold 1,459 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $40.25, for a total transaction of $58,724.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ernest W. Cloutier sold 134,462 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $39.93, for a total value of $5,369,067.66. Following the sale, the executive vice president now owns 38,622 shares in the company, valued at approximately $1,542,176.46. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

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.

5 Day Chart for NYSE:IRM

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Inc. (NYSE:IRM).

Receive News & Ratings for Iron Mountain Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain Inc. and related companies with MarketBeat.com's FREE daily email newsletter.