Pioneer Investment Management Inc. cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% during the second quarter, Holdings Channel reports. The institutional investor owned 84,424 shares of the financial services provider’s stock after selling 2,457 shares during the period. Pioneer Investment Management Inc.’s holdings in Iron Mountain were worth $2,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IRM. Vanguard Group Inc. boosted its stake in shares of Iron Mountain by 2.1% in the first quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock valued at $1,542,644,000 after buying an additional 893,442 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Iron Mountain by 3,761.9% in the first quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock worth $643,048,000 after buying an additional 17,560,886 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of Iron Mountain by 3.8% in the first quarter. Parnassus Investments CA now owns 11,942,837 shares of the financial services provider’s stock worth $414,108,000 after buying an additional 441,458 shares during the last quarter. State Street Corp boosted its stake in shares of Iron Mountain by 3.1% in the first quarter. State Street Corp now owns 10,575,065 shares of the financial services provider’s stock worth $377,212,000 after buying an additional 320,851 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Iron Mountain by 9.2% in the first quarter. Epoch Investment Partners Inc. now owns 6,223,354 shares of the financial services provider’s stock worth $221,986,000 after buying an additional 523,420 shares during the last quarter. 85.97% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Incorporated (IRM) opened at 37.63 on Tuesday. Iron Mountain Incorporated has a 12-month low of $30.75 and a 12-month high of $39.75. The firm’s 50-day moving average price is $35.38 and its 200 day moving average price is $35.40. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 51.62 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $950 million for the quarter, compared to analysts’ expectations of $955.05 million. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. Iron Mountain’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.55 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.85%. Iron Mountain’s dividend payout ratio is currently 297.30%.

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A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Deutsche Bank AG lowered Iron Mountain from a “hold” rating to a “sell” rating and decreased their price target for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a research note on Friday, June 9th. Finally, BidaskClub lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.67.

In other Iron Mountain news, Director Walter C. Rakowich sold 1,552 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $35.15, for a total transaction of $54,552.80. Following the transaction, the director now owns 15,074 shares in the company, valued at approximately $529,851.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Tomovcsik sold 29,450 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total transaction of $1,119,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,102 shares of company stock worth $1,247,447. Insiders own 1.50% of the company’s stock.

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.

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

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