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

Tectonic Advisors LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,207 shares of the financial services provider’s stock after acquiring an additional 4,303 shares during the period. Iron Mountain comprises approximately 0.7% of Tectonic Advisors LLC’s portfolio, making the stock its 26th largest position. Tectonic Advisors LLC’s holdings in Iron Mountain were worth $10,533,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in IRM. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC bought a new position in shares of Iron Mountain during the third quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain in the third quarter worth about $36,000. Dunhill Financial LLC lifted its stake 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 valued at $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Quarry LP boosted its holdings in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $101.31 on Wednesday. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24. The stock has a market capitalization of $29.73 billion, a P/E ratio of 281.42, a P/E/G ratio of 5.58 and a beta of 1.01. The company’s 50-day moving average is $108.43 and its 200 day moving average is $112.67.

Analysts Set New Price Targets

A number of brokerages have commented on IRM. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target 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. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, 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 note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.17.

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.