Meeder Asset Management Inc. reduced its stake in Iron Mountain Inc. (NYSE:IRM) by 15.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,583 shares of the company’s stock after selling 3,279 shares during the period. Meeder Asset Management Inc.’s holdings in Iron Mountain were worth $700,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IRM. BlackRock Institutional Trust Company N.A. increased its position in shares of Iron Mountain by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,484,335 shares of the company’s stock valued at $219,884,000 after buying an additional 39,022 shares during the last quarter. Makaira Partners LLC acquired a new position in shares of Iron Mountain during the first quarter valued at $104,016,000. Uniplan Investment Counsel Inc. increased its position in shares of Iron Mountain by 31.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,710,721 shares of the company’s stock valued at $49,045,000 after buying an additional 411,439 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Iron Mountain by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,612,917 shares of the company’s stock valued at $54,584,000 after buying an additional 37,165 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Iron Mountain by 3.1% in the first quarter. BlackRock Group LTD now owns 1,444,426 shares of the company’s stock valued at $48,981,000 after buying an additional 43,560 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Iron Mountain Inc. (NYSE:IRM) traded down 0.64% on Friday, reaching $35.82. The company had a trading volume of 5,534,787 shares. Iron Mountain Inc. has a 52-week low of $23.64 and a 52-week high of $41.50. The company has a market capitalization of $9.43 billion, a PE ratio of 101.47 and a beta of 0.67. The company’s 50-day moving average is $38.36 and its 200-day moving average is $36.56.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.05. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The company earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts anticipate that Iron Mountain Inc. will post $2.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.94 annualized dividend and a dividend yield of 5.42%. Iron Mountain’s dividend payout ratio (DPR) is currently 510.54%.

IRM has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a research note on Tuesday, September 13th. Zacks Investment Research raised Iron Mountain from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Monday, August 8th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. TheStreet downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Iron Mountain presently has an average rating of “Hold” and an average price target of $41.00.

In other Iron Mountain news, Director Walter C. Rakowich sold 1,466 shares of Iron Mountain stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $53,245.12. Following the transaction, the director now directly owns 7,130 shares in the company, valued at approximately $258,961.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Edward Bicks sold 2,773 shares of Iron Mountain stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.32, for a total value of $100,715.36. Following the completion of the transaction, the vice president now owns 914 shares in the company, valued at $33,196.48. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Iron Mountain Company Profile

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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