Forsta AP Fonden lowered its position in Iron Mountain Inc (NYSE:IRM) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,600 shares of the financial services provider’s stock after selling 3,800 shares during the period. Forsta AP Fonden’s holdings in Iron Mountain were worth $2,262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. JPMorgan Chase & Co. grew its holdings in shares of Iron Mountain by 123.0% in the first quarter. JPMorgan Chase & Co. now owns 6,708,592 shares of the financial services provider’s stock worth $220,444,000 after acquiring an additional 3,700,599 shares during the period. Hexavest Inc. bought a new stake in shares of Iron Mountain in the second quarter worth $33,871,000. Millennium Management LLC bought a new stake in Iron Mountain during the first quarter valued at about $21,996,000. Rockefeller Capital Management L.P. bought a new stake in Iron Mountain during the first quarter valued at about $18,207,000. Finally, Chicago Capital LLC grew its holdings in Iron Mountain by 121.8% during the second quarter. Chicago Capital LLC now owns 777,165 shares of the financial services provider’s stock valued at $27,209,000 after purchasing an additional 426,848 shares during the period. 86.06% of the stock is owned by institutional investors.

Shares of NYSE:IRM opened at $35.65 on Monday. Iron Mountain Inc has a 52-week low of $30.78 and a 52-week high of $41.53. The company has a market capitalization of $10.31 billion, a P/E ratio of 16.91 and a beta of 0.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.87.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Iron Mountain’s revenue was up 11.7% compared to the same quarter last year. equities research analysts predict that Iron Mountain Inc will post 2.12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 17th will be paid a $0.5875 dividend. The ex-dividend date is Friday, September 14th. This represents a $2.35 annualized dividend and a yield of 6.59%. Iron Mountain’s dividend payout ratio (DPR) is currently 110.33%.

IRM has been the subject of several recent research reports. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Credit Suisse Group started coverage on Iron Mountain in a research note on Friday, August 10th. They issued an “underperform” rating and a $25.00 price objective for the company. Barclays initiated coverage on Iron Mountain in a research report on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 target price on the stock. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.57.

In related news, Director Walter C. Rakowich sold 1,765 shares of the stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $34.95, for a total value of $61,686.75. Following the transaction, the director now owns 20,324 shares of the company’s stock, valued at $710,323.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stuart B. Brown sold 1,750 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $35.38, for a total value of $61,915.00. Following the sale, the chief financial officer now directly owns 7,661 shares in the company, valued at approximately $271,046.18. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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

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