Panagora Asset Management Inc. boosted its stake in Iron Mountain Inc (NYSE:IRM) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,272 shares of the financial services provider’s stock after purchasing an additional 1,913 shares during the quarter. Panagora Asset Management Inc.’s holdings in Iron Mountain were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of IRM. Geode Capital Management LLC increased its stake 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 worth $126,683,000 after purchasing an additional 270,237 shares during the period. Janus Henderson Group PLC increased its position in Iron Mountain by 30.4% during the first quarter. Janus Henderson Group PLC now owns 317,494 shares of the financial services provider’s stock valued at $11,258,000 after acquiring an additional 73,926 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Iron Mountain by 281.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 18,504 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 13,658 shares during the last quarter. State Treasurer State of Michigan increased its position in Iron Mountain by 0.7% during the first quarter. State Treasurer State of Michigan now owns 82,546 shares of the financial services provider’s stock valued at $2,927,000 after acquiring an additional 600 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Iron Mountain by 47.7% during the first quarter. Toronto Dominion Bank now owns 267,678 shares of the financial services provider’s stock valued at $9,489,000 after acquiring an additional 86,475 shares during the last quarter. Institutional investors and hedge funds own 85.93% of the company’s stock.

In other news, EVP Patrick J. Keddy sold 6,000 shares of Iron Mountain stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total value of $198,000.00. Following the transaction, the executive vice president now directly owns 24,114 shares in the company, valued at approximately $795,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

IRM has been the subject of a number of research reports. TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research report on Monday. Wells Fargo & Co started coverage on Iron Mountain in a research report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 target price for the company. Bank of America cut Iron Mountain from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $33.00 to $25.00 in a research report on Thursday, July 11th. Credit Suisse Group reiterated a “sell” rating and set a $21.00 target price on shares of Iron Mountain in a research report on Thursday. Finally, ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Iron Mountain presently has an average rating of “Hold” and an average target price of $33.51.

Shares of NYSE:IRM traded down $1.33 during trading on Friday, hitting $32.81. The company had a trading volume of 744,724 shares, compared to its average volume of 1,830,269. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 3.90 and a beta of 0.54. Iron Mountain Inc has a one year low of $29.28 and a one year high of $37.32. The company has a fifty day simple moving average of $31.42 and a two-hundred day simple moving average of $32.65. The company has a debt-to-equity ratio of 6.06, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.30 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Iron Mountain Inc will post 2.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be issued a $0.611 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.45%. Iron Mountain’s dividend payout ratio is presently 106.09%.

Iron Mountain 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 approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Further Reading: What is the market perform rating?

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

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