Sun Life Financial INC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3,276.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,007 shares of the financial services provider’s stock after acquiring an additional 10,681 shares during the quarter. Sun Life Financial INC’s holdings in Iron Mountain were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IRM. Creative Planning lifted its position in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 134 shares during the period. Pacer Advisors Inc. lifted its position in Iron Mountain by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 121 shares during the period. Soros Fund Management LLC acquired a new stake in Iron Mountain during the 1st quarter worth approximately $203,000. CIBC World Markets Inc. acquired a new stake in Iron Mountain during the 2nd quarter worth approximately $203,000. Finally, Penserra Capital Management LLC lifted its position in Iron Mountain by 7.5% during the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 422 shares during the period. 87.46% of the stock is owned by institutional investors.

In other Iron Mountain news, EVP John Tomovcsik sold 29,450 shares of Iron Mountain stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total value of $1,119,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 51,401 shares of company stock valued at $1,997,617. 1.50% of the stock is currently owned by insiders.

Iron Mountain Incorporated (NYSE:IRM) traded up 0.31% during mid-day trading on Friday, reaching $38.90. The company’s stock had a trading volume of 1,091,322 shares. The firm has a 50-day moving average of $38.47 and a 200-day moving average of $35.80. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 53.36 and a beta of 0.92. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $40.64.

Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. During the same period in the previous year, the firm posted $0.24 earnings per share. Iron Mountain’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Iron Mountain Incorporated will post $1.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a yield of 5.66%. Iron Mountain’s payout ratio is currently 297.30%.

A number of research firms have weighed in on IRM. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a research report on Friday, June 9th. BidaskClub cut Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Robert W. Baird set a $39.00 price objective on Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG cut Iron Mountain from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $41.00 to $30.00 in a research report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.50.

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Iron Mountain 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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