Iron Mountain Incorporated (NYSE:IRM) Holdings Decreased by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 346,570 shares of the financial services provider’s stock after selling 3,431 shares during the period. Iron Mountain comprises about 4.0% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 5th biggest position. Marble Harbor Investment Counsel LLC’s holdings in Iron Mountain were worth $36,428,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter worth about $26,000. Key Financial Inc lifted its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Finally, Dunhill Financial LLC increased its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM opened at $84.21 on Friday. The company has a fifty day moving average of $100.66 and a two-hundred day moving average of $111.20. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.73%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 343,114 shares of company stock valued at $33,323,682. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on IRM shares. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $127.67.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.