abrdn plc Has $65.39 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

abrdn plc raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 630,036 shares of the financial services provider’s stock after purchasing an additional 3,756 shares during the quarter. abrdn plc’s holdings in Iron Mountain were worth $65,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRM. U.S. Capital Wealth Advisors LLC grew its stake in shares of 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 buying an additional 105,726 shares in the last quarter. Greenleaf Trust lifted its stake in Iron Mountain by 2.2% in the fourth quarter. Greenleaf Trust now owns 7,551 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 165 shares during the last quarter. Spire Wealth Management grew its position in shares of Iron Mountain by 17.6% in the 4th quarter. Spire Wealth Management now owns 15,374 shares of the financial services provider’s stock valued at $1,616,000 after acquiring an additional 2,305 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Iron Mountain by 3.0% during the 4th quarter. DAVENPORT & Co LLC now owns 25,466 shares of the financial services provider’s stock worth $2,676,000 after purchasing an additional 735 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Iron Mountain by 36.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 2,768 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $101.31 on Wednesday. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The company’s 50-day simple moving average is $108.43 and its 200 day simple moving average is $112.67. The company has a market capitalization of $29.73 billion, a PE ratio of 281.42, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas raised 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently 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.