Tectonic Advisors LLC Buys 4,303 Shares of Iron Mountain Incorporated (NYSE:IRM)

Tectonic Advisors LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,207 shares of the financial services provider’s stock after purchasing an additional 4,303 shares during the period. Iron Mountain comprises 0.7% of Tectonic Advisors LLC’s portfolio, making the stock its 26th largest holding. Tectonic Advisors LLC’s holdings in Iron Mountain were worth $10,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Czech National Bank grew its holdings in shares of Iron Mountain by 7.0% in the third quarter. Czech National Bank now owns 59,755 shares of the financial services provider’s stock worth $7,101,000 after acquiring an additional 3,896 shares during the period. GAMMA Investing LLC grew its stake in shares of Iron Mountain by 27.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,794 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 815 shares during the period. Diversified Trust Co increased its position in shares of Iron Mountain by 148.4% during the 3rd quarter. Diversified Trust Co now owns 12,168 shares of the financial services provider’s stock valued at $1,446,000 after purchasing an additional 7,270 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Iron Mountain in the 3rd quarter worth approximately $229,000. Finally, City Center Advisors LLC purchased a new position in shares of Iron Mountain in the third quarter worth approximately $224,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IRM shares. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays reduced their price objective 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. 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. Finally, StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.17.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s 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 sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s 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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $101.31 on Wednesday. The firm has a market cap of $29.73 billion, a P/E ratio of 281.42, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. The company has a 50 day simple moving average of $108.43 and a two-hundred day simple moving average of $112.67. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

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.