Kentucky Trust Co Invests $2.26 Million in Iron Mountain Incorporated (NYSE:IRM)

Kentucky Trust Co bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,490 shares of the financial services provider’s stock, valued at approximately $2,259,000. Iron Mountain accounts for about 1.3% of Kentucky Trust Co’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the third quarter worth $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain during the third quarter worth $36,000. Dunhill Financial LLC raised its holdings in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated 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. Over the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.17.

Iron Mountain Stock Performance

Iron Mountain stock opened at $106.20 on Wednesday. The business’s 50-day simple moving average is $106.72 and its 200-day simple moving average is $112.92. The firm has a market capitalization of $31.17 billion, a PE ratio of 295.01, a PEG ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week 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.