Brookstone Capital Management Has $12.91 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Brookstone Capital Management boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 33.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,859 shares of the financial services provider’s stock after buying an additional 31,064 shares during the quarter. Brookstone Capital Management’s holdings in Iron Mountain were worth $12,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter worth $31,000. West Branch Capital LLC acquired a new stake in Iron Mountain in the 3rd quarter worth $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the 3rd quarter worth $36,000. Dunhill Financial LLC grew its position in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP grew its position in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last ninety days. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IRM. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Trading Up 1.1 %

Shares of IRM stock opened at $102.23 on Tuesday. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The company has a market capitalization of $30.00 billion, a P/E ratio of 283.98, a P/E/G ratio of 6.70 and a beta of 1.02. The firm has a 50-day moving average price of $112.30 and a 200 day moving average price of $111.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.44%.

Iron Mountain 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.