Marble Harbor Investment Counsel LLC Has $33.72 Million Stock Holdings in Iron Mountain Incorporated $IRM

Marble Harbor Investment Counsel LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,773 shares of the financial services provider’s stock after selling 4,815 shares during the quarter. Iron Mountain accounts for approximately 3.7% 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 $33,722,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its stake in Iron Mountain by 14.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,860 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Iron Mountain by 86.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares in the last quarter. Penobscot Investment Management Company Inc. purchased a new stake in shares of Iron Mountain during the second quarter valued at $517,000. Steward Partners Investment Advisory LLC boosted its position in shares of Iron Mountain by 1.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 513 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Iron Mountain in the 2nd quarter worth about $10,093,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $102.51, for a total value of $615,060.00. Following the completion of the sale, the executive vice president owned 67,081 shares of the company’s stock, valued at $6,876,473.31. The trade was a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 226,681 shares of company stock valued at $22,265,632. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $101.09 on Wednesday. The stock has a market cap of $29.88 billion, a P/E ratio of 722.12 and a beta of 1.06. The stock’s fifty day moving average is $101.62 and its 200 day moving average is $98.75. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $125.38.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the company earned $1.13 earnings per share. The business’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. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be given a $0.864 dividend. The ex-dividend date is Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. 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 currently 650.94%.

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.