Marble Harbor Investment Counsel LLC Sells 7,121 Shares of Iron Mountain Incorporated (NYSE:IRM)

Marble Harbor Investment Counsel LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.6% in the second quarter, HoldingsChannel reports. The firm owned 438,960 shares of the financial services provider’s stock after selling 7,121 shares during the period. Iron Mountain makes up approximately 4.6% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 3rd biggest holding. Marble Harbor Investment Counsel LLC’s holdings in Iron Mountain were worth $39,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after purchasing an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Iron Mountain by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after acquiring an additional 59,381 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,787 shares of company stock valued at $6,025,002. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IRM. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company upped their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Price Performance

Iron Mountain stock opened at $117.06 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $34.31 billion, a P/E ratio of 177.36, a PEG ratio of 6.85 and a beta of 1.00. The business has a 50-day moving average of $106.10 and a 200-day moving average of $90.03. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $117.83.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.44%. Iron Mountain’s payout ratio is currently 433.33%.

Iron Mountain 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.