Iron Mountain Incorporated $IRM Stock Holdings Lowered by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 283,969 shares of the financial services provider’s stock after selling 11,564 shares during the quarter. Iron Mountain comprises approximately 3.0% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 7th largest position. Marble Harbor Investment Counsel LLC’s holdings in Iron Mountain were worth $31,506,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Iron Mountain in the 2nd quarter valued at approximately $4,240,342,000. Dimensional Fund Advisors LP boosted its stake in Iron Mountain by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock valued at $464,931,000 after purchasing an additional 122,927 shares during the last quarter. Legal & General Group Plc purchased a new stake in Iron Mountain during the 2nd quarter valued at $409,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 29,674.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock worth $403,379,000 after purchasing an additional 3,182,834 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Iron Mountain in the 2nd quarter worth $385,129,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRM has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price target on Iron Mountain from $147.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, October 12th. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $147.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Finally, Truist Financial boosted their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.33.

Insider Transactions at Iron Mountain

In other news, CEO William Meaney sold 38,474 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total value of $4,389,113.92. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,389,113.92. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $693,600.00. Following the completion of the sale, the executive vice president directly owned 95,507 shares of the company’s stock, valued at $11,040,609.20. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,422 shares of company stock worth $15,116,038 in the last ninety days. Insiders own 1.70% of the company’s stock.

Iron Mountain Stock Up 1.9%

Shares of Iron Mountain stock opened at $114.55 on Friday. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 74.87 and a beta of 1.18. The company’s 50 day moving average is $113.54 and its 200 day moving average is $115.75. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, November 5th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Iron Mountain had a net margin of 5.88% and a negative return on equity of 79.98%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be paid a $0.9930 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. The ex-dividend date is Tuesday, December 15th. This represents a $3.97 dividend on an annualized basis and a dividend yield of 3.5%. Iron Mountain’s dividend payout ratio (DPR) is 226.14%.

Iron Mountain Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.