Mather Group LLC. Raises Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Mather Group LLC. grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,582 shares of the financial services provider’s stock after purchasing an additional 113 shares during the quarter. Mather Group LLC.’s holdings in Iron Mountain were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IRM. abrdn plc grew its stake in shares of Iron Mountain by 0.6% in the fourth quarter. abrdn plc now owns 630,036 shares of the financial services provider’s stock worth $65,388,000 after acquiring an additional 3,756 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Iron Mountain by 1,453.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock valued at $11,878,000 after purchasing an additional 105,726 shares during the period. Greenleaf Trust grew its stake in Iron Mountain by 2.2% during the 4th quarter. Greenleaf Trust now owns 7,551 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 165 shares in the last quarter. Spire Wealth Management increased its holdings in Iron Mountain by 17.6% during the 4th quarter. Spire Wealth Management now owns 15,374 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 2,305 shares during the period. Finally, DAVENPORT & Co LLC raised its position in Iron Mountain by 3.0% in the 4th quarter. DAVENPORT & Co LLC now owns 25,466 shares of the financial services provider’s stock valued at $2,676,000 after purchasing an additional 735 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was 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 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,266 shares of company stock valued at $18,694,561. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $106.14 on Friday. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The firm has a 50-day simple moving average of $107.66 and a 200-day simple moving average of $112.56. The company has a market capitalization of $31.15 billion, a price-to-earnings ratio of 294.84, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01.

Analysts Set New Price Targets

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

Iron Mountain Company 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.