Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 438,960 shares of the financial services provider’s stock after selling 7,121 shares during the period. Iron Mountain comprises 4.6% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 3rd largest holding. Marble Harbor Investment Counsel LLC owned about 0.15% of Iron Mountain worth $39,340,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IRM. Envestnet Portfolio Solutions Inc. boosted its position in Iron Mountain by 17.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,091 shares of the financial services provider’s stock valued at $1,056,000 after purchasing an additional 2,286 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Iron Mountain by 98.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,552 shares of the financial services provider’s stock worth $109,000 after buying an additional 769 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Iron Mountain by 3.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,468 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 274 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Iron Mountain by 8.5% in the fourth quarter. Level Four Advisory Services LLC now owns 14,496 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Iron Mountain by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 224 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Iron Mountain Stock Up 0.6 %

IRM opened at $117.06 on Monday. The business has a 50 day moving average of $106.10 and a 200-day moving average of $90.03. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 177.36, a P/E/G ratio of 6.85 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. 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 results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $0.94 earnings per share. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Analysts Set New Price Targets

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

About Iron Mountain

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.