Tower Research Capital LLC TRC acquired a new position in shares of Iron Mountain Inc (NYSE:IRM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,220 shares of the financial services provider’s stock, valued at approximately $708,000.

A number of other institutional investors have also recently added to or reduced their stakes in IRM. Wells Fargo & Company MN increased its position in Iron Mountain by 17.9% during the first quarter. Wells Fargo & Company MN now owns 619,786 shares of the financial services provider’s stock worth $20,366,000 after purchasing an additional 94,107 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Iron Mountain by 203.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 14,691 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 9,845 shares during the last quarter. American International Group Inc. increased its position in shares of Iron Mountain by 4.7% during the first quarter. American International Group Inc. now owns 99,949 shares of the financial services provider’s stock valued at $3,284,000 after acquiring an additional 4,512 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Iron Mountain by 42.5% during the first quarter. Thrivent Financial for Lutherans now owns 153,107 shares of the financial services provider’s stock valued at $5,031,000 after acquiring an additional 45,658 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Iron Mountain by 40.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 35,000 shares of the financial services provider’s stock valued at $1,150,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.

A number of equities research analysts have weighed in on IRM shares. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Barclays started coverage on shares of Iron Mountain in a research report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price target for the company. Berenberg Bank started coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They issued a “buy” rating and a $52.00 price objective for the company. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. Finally, ValuEngine lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Iron Mountain has a consensus rating of “Hold” and a consensus target price of $40.25.

Iron Mountain stock traded up $0.09 during trading on Friday, reaching $31.59. The stock had a trading volume of 3,133,889 shares, compared to its average volume of 1,780,424. Iron Mountain Inc has a 52-week low of $30.78 and a 52-week high of $41.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 3.87. The company has a market capitalization of $9.88 billion, a P/E ratio of 14.83 and a beta of 0.61.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were given a dividend of $0.5875 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $2.35 annualized dividend and a dividend yield of 7.44%. Iron Mountain’s dividend payout ratio is presently 110.33%.

In other news, CFO Stuart B. Brown sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $35.38, for a total transaction of $61,915.00. Following the completion of the sale, the chief financial officer now owns 7,661 shares in the company, valued at approximately $271,046.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

About Iron Mountain

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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