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

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 92,570 shares of the financial services provider’s stock after buying an additional 7,916 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Iron Mountain were worth $9,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Iron Mountain by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock worth $95,726,000 after buying an additional 10,160 shares during the last quarter. RNC Capital Management LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $841,000. Strategic Financial Concepts LLC boosted its stake in shares of Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 240,261 shares during the last quarter. Rik Saylor Financial Inc. purchased a new stake in shares of Iron Mountain in the 4th quarter worth $863,000. Finally, Oakworth Capital Inc. bought a new position in Iron Mountain in the 4th quarter worth $55,000. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 178,266 shares of company stock valued at $18,694,561. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Iron Mountain Stock Down 0.1 %

Shares of IRM stock opened at $106.13 on Friday. The company’s fifty day simple moving average is $107.31 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. The stock has a market cap of $31.14 billion, a P/E ratio of 294.81, a PEG ratio of 5.58 and a beta of 1.01.

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.