Fernwood Investment Management LLC decreased its stake in Iron Mountain Inc (NYSE:IRM) by 62.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,706 shares of the financial services provider’s stock after selling 38,656 shares during the period. Fernwood Investment Management LLC’s holdings in Iron Mountain were worth $742,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Iron Mountain by 0.7% in the 1st quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock valued at $718,826,000 after purchasing an additional 147,381 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Iron Mountain by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock valued at $133,783,000 after acquiring an additional 45,950 shares during the period. Geode Capital Management LLC increased its position in Iron Mountain by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock valued at $126,683,000 after acquiring an additional 270,237 shares during the period. Northern Trust Corp increased its position in Iron Mountain by 1.0% in the 1st quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock valued at $121,169,000 after acquiring an additional 33,106 shares during the period. Finally, California Public Employees Retirement System increased its position in Iron Mountain by 19.1% in the 1st quarter. California Public Employees Retirement System now owns 1,590,207 shares of the financial services provider’s stock valued at $56,389,000 after acquiring an additional 254,735 shares during the period. 87.29% of the stock is owned by institutional investors and hedge funds.

NYSE:IRM traded up $0.31 during trading hours on Thursday, reaching $30.92. The company had a trading volume of 59,036 shares, compared to its average volume of 2,850,418. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 3.64 and a beta of 0.59. The stock has a 50-day moving average price of $30.74. Iron Mountain Inc has a twelve month low of $29.28 and a twelve month high of $37.32.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share. As a group, equities analysts predict that Iron Mountain Inc will post 2.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be issued a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date of this dividend is Friday, September 13th. Iron Mountain’s payout ratio is 106.09%.

IRM has been the subject of several recent research reports. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Wells Fargo & Co started coverage on shares of Iron Mountain in a research report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 price objective for the company. Bank of America cut shares of Iron Mountain from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $33.00 to $25.00 in a research report on Thursday, July 11th. Robert W. Baird upgraded shares of Iron Mountain from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $27.00 to $29.00 in a research report on Friday, August 2nd. Finally, Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $35.08.

In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $31.47, for a total value of $63,695.28. Following the completion of the sale, the director now directly owns 23,360 shares in the company, valued at $735,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

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 approximately 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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