Clinton Group Inc. purchased a new stake in shares of Iron Mountain Inc (NYSE:IRM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,737 shares of the financial services provider’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Synovus Financial Corp lifted its position in shares of Iron Mountain by 402.0% during the 2nd quarter. Synovus Financial Corp now owns 3,012 shares of the financial services provider’s stock valued at $106,000 after buying an additional 2,412 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $115,000. Klingenstein Fields & Co. LLC purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $202,000. Qube Research & Technologies Ltd lifted its position in shares of Iron Mountain by 775.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock valued at $202,000 after buying an additional 5,113 shares during the last quarter. Finally, Chemical Bank purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $207,000. 86.04% of the stock is currently owned by hedge funds and other institutional investors.

IRM has been the topic of a number of recent research reports. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. Zacks Investment Research cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Barclays assumed coverage on Iron Mountain in a report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price objective on the stock. Credit Suisse Group assumed coverage on Iron Mountain in a report on Friday, August 10th. They set an “underperform” rating and a $25.00 price objective on the stock. Finally, Berenberg Bank assumed coverage on Iron Mountain in a report on Thursday, September 20th. They set a “buy” rating and a $52.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $40.25.

Shares of IRM opened at $31.59 on Friday. The stock has a market cap of $9.88 billion, a P/E ratio of 14.92 and a beta of 0.61. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.98 and a current ratio of 0.98. Iron Mountain Inc has a 52-week low of $30.78 and a 52-week high of $41.53.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, research analysts expect that Iron Mountain Inc will post 2.12 EPS for the current year.

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

In related news, CFO Stuart B. Brown sold 1,750 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total transaction of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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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