Convergence Investment Partners LLC purchased a new position in Iron Mountain Inc. (NYSE:IRM) during the second quarter, according to its most recent filing with the SEC. The fund purchased 21,564 shares of the company’s stock, valued at approximately $859,000.

Other large investors have also recently made changes to their positions in the company. Westpac Banking Corp boosted its position in shares of Iron Mountain by 40.2% in the second quarter. Westpac Banking Corp now owns 13,051 shares of the company’s stock worth $520,000 after buying an additional 3,745 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of Iron Mountain by 256.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,421 shares of the company’s stock worth $136,000 after buying an additional 2,462 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Iron Mountain by 20.6% in the second quarter. Vanguard Group Inc. now owns 38,112,697 shares of the company’s stock worth $1,518,029,000 after buying an additional 6,510,415 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 34.8% in the second quarter. Principal Financial Group Inc. now owns 378,284 shares of the company’s stock worth $15,067,000 after buying an additional 97,671 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Iron Mountain by 38.0% in the second quarter. Prudential Financial Inc. now owns 319,271 shares of the company’s stock worth $12,717,000 after buying an additional 87,895 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Inc. (NYSE:IRM) opened at 36.49 on Tuesday. Iron Mountain Inc. has a 12 month low of $23.64 and a 12 month high of $41.50. The firm’s 50-day moving average price is $37.77 and its 200 day moving average price is $36.74. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 103.37 and a beta of 0.67.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The firm had revenue of $883.70 million for the quarter, compared to analysts’ expectations of $884.46 million. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. On average, analysts anticipate that Iron Mountain Inc. will post $2.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.94 annualized dividend and a dividend yield of 5.32%. Iron Mountain’s dividend payout ratio (DPR) is 510.54%.

Several brokerages have recently issued reports on IRM. Stifel Nicolaus restated a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a report on Tuesday, September 13th. Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. TheStreet cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, Piper Jaffray Cos. reiterated a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.00.

In other news, VP Edward Bicks sold 1,459 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $40.25, for a total transaction of $58,724.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ernest W. Cloutier sold 134,462 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $39.93, for a total value of $5,369,067.66. Following the sale, the executive vice president now directly owns 38,622 shares in the company, valued at $1,542,176.46. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

5 Day Chart for NYSE:IRM

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