Iron Mountain Incorporated $IRM Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 283,969 shares of the financial services provider’s stock after selling 11,564 shares during the quarter. Iron Mountain comprises 3.0% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 7th largest position. Marble Harbor Investment Counsel LLC owned approximately 0.10% of Iron Mountain worth $31,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Iron Mountain in the second quarter worth about $4,240,342,000. Dimensional Fund Advisors LP raised its position in shares of Iron Mountain by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after acquiring an additional 122,927 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Iron Mountain in the 2nd quarter worth approximately $409,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $403,379,000 after purchasing an additional 3,182,834 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $385,129,000. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Greg McIntosh sold 5,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $116.96, for a total value of $584,800.00. Following the sale, the executive vice president directly owned 65,634 shares of the company’s stock, valued at approximately $7,676,552.64. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the 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 in the company, valued at approximately $11,040,609.20. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 136,422 shares of company stock valued at $15,116,038. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Truist Financial lifted their price target on Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Jefferies Financial Group decreased their price objective on Iron Mountain from $147.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 12th. Wells Fargo & Company raised their price objective on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings cut shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Finally, Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.33.

Iron Mountain Stock Performance

Shares of IRM opened at $114.55 on Friday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm’s 50-day simple moving average is $113.54 and its two-hundred day simple moving average is $115.75. The stock has a market cap of $34.12 billion, a PE ratio of 74.87 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last issued its quarterly 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. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Iron Mountain had a negative return on equity of 79.98% and a net margin of 5.88%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. Equities research analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Tuesday, December 15th will be issued a $0.9930 dividend. This represents a $3.97 annualized dividend and a yield of 3.5%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. The ex-dividend date of this dividend is Tuesday, December 15th. Iron Mountain’s dividend payout ratio is presently 226.14%.

Iron Mountain Company 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.