Sumitomo Mitsui DS Asset Management Company Ltd Purchases 7,916 Shares of Iron Mountain Incorporated (NYSE:IRM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,570 shares of the financial services provider’s stock after buying an additional 7,916 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $9,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the 3rd quarter worth approximately $36,000. Dunhill Financial LLC increased its holdings in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter valued at $55,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Iron Mountain Trading Down 0.1 %

Shares of NYSE IRM opened at $106.13 on Friday. The firm has a fifty day simple moving average of $107.31 and a two-hundred day simple moving average of $112.61. The firm has a market capitalization of $31.14 billion, a PE ratio of 294.81, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders sold 178,266 shares of company stock worth $18,694,561 over the last three months. Company insiders own 2.10% of the company’s stock.

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.