Retirement Systems of Alabama Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Retirement Systems of Alabama boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,176 shares of the financial services provider’s stock after acquiring an additional 132 shares during the period. Retirement Systems of Alabama owned 0.08% of Iron Mountain worth $24,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. OneDigital Investment Advisors LLC grew its position in shares of Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares during the last quarter. Geller Advisors LLC increased its stake in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after buying an additional 96 shares during the period. Schmidt P J Investment Management Inc. raised its stake in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC raised its position in Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.6 %

Shares of IRM stock opened at $103.87 on Thursday. The stock has a market cap of $30.48 billion, a P/E ratio of 288.54, a PEG ratio of 5.58 and a beta of 1.01. The company’s fifty day simple moving average is $108.03 and its two-hundred day simple moving average is $112.61. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,141 shares of company stock valued at $20,567,176. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of several research reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

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.