Palacios Wealth Management LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,525 shares of the financial services provider’s stock, valued at approximately $373,000.
Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC boosted its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP boosted its stake in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.
Iron Mountain Trading Down 7.3 %
Shares of IRM stock opened at $95.20 on Friday. The stock has a 50 day moving average of $105.94 and a two-hundred day moving average of $112.73. Iron Mountain Incorporated has a 12 month low of $66.86 and a 12 month high of $130.24. The company has a market capitalization of $27.94 billion, a P/E ratio of 264.44, a P/E/G ratio of 5.84 and a beta of 1.01.
Iron Mountain Increases Dividend
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.17.
Read Our Latest Stock Analysis on IRM
Insider Buying and Selling
In related news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock worth $16,805,912 in the last 90 days. 2.10% of the stock is owned by company insiders.
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.
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