Triasima Portfolio Management inc. Acquires New Position in Iron Mountain Incorporated (NYSE:IRM)

Triasima Portfolio Management inc. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,540 shares of the financial services provider’s stock, valued at approximately $3,000,000.

Several other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in Iron Mountain in the third quarter valued at approximately $31,000. West Branch Capital LLC bought a new stake in Iron Mountain in the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% in the third 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 in the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Iron Mountain in the fourth quarter valued at approximately $55,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Up 2.1 %

Iron Mountain stock opened at $106.14 on Friday. The company has a market cap of $31.15 billion, a P/E ratio of 294.84, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a fifty day simple moving average of $107.66 and a 200 day simple moving average of $112.56.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,266 shares of company stock valued at $18,694,561. Corporate insiders own 2.10% of the company’s stock.

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.