RNC Capital Management LLC Acquires Shares of 8,001 Iron Mountain Incorporated (NYSE:IRM)

RNC Capital Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,001 shares of the financial services provider’s stock, valued at approximately $841,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after purchasing an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the period. Captrust Financial Advisors boosted its position in shares of Iron Mountain by 5.2% in the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock valued at $113,073,000 after acquiring an additional 47,327 shares during the period. Finally, Swiss National Bank boosted its position in shares of Iron Mountain by 0.3% in the third quarter. Swiss National Bank now owns 869,961 shares of the financial services provider’s stock valued at $103,377,000 after acquiring an additional 2,200 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRM shares. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays reduced their target price 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. 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 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. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 178,266 shares of company stock valued at $18,694,561 in the last three months. 2.10% of the stock is currently owned by insiders.

Iron Mountain Price Performance

IRM opened at $106.14 on Friday. The company has a market capitalization of $31.15 billion, a price-to-earnings ratio of 294.84, a P/E/G ratio of 5.58 and a beta of 1.01. The firm’s fifty day moving average price is $107.66 and its two-hundred day moving average price is $112.56. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

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.