Iron Mountain Incorporated $IRM Position Reduced by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328,773 shares of the financial services provider’s stock after selling 4,815 shares during the period. Iron Mountain makes up 3.7% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 5th largest position. Marble Harbor Investment Counsel LLC owned 0.11% of Iron Mountain worth $33,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $26,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter worth approximately $34,000. Richards Merrill & Peterson Inc. bought a new stake in Iron Mountain in the first quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Iron Mountain in the second quarter valued at approximately $51,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Iron Mountain during the first quarter valued at approximately $46,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $101.09 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $125.38. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 722.12 and a beta of 1.06. The stock’s 50 day simple moving average is $101.62 and its two-hundred day simple moving average is $98.75.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, analysts predict 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 Tuesday, January 6th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.864 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.4%. Iron Mountain’s dividend payout ratio (DPR) is presently 650.94%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the sale, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.75, for a total transaction of $7,102,593.75. The SEC filing for this sale provides additional information. Insiders sold a total of 226,681 shares of company stock worth $22,265,632 over the last ninety days. Insiders own 1.90% of the company’s stock.

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.