Brookstone Capital Management Has $13.61 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Brookstone Capital Management lifted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 28.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,221 shares of the financial services provider's stock after purchasing an additional 35,362 shares during the quarter. Brookstone Capital Management owned 0.05% of Iron Mountain worth $13,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Wealthfront Advisers LLC lifted its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank bought a new stake in Iron Mountain in the fourth quarter valued at about $348,249,000. Northern Trust Corp raised its position in Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. lifted its stake in Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Iron Mountain by 439.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after purchasing an additional 978,251 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Finally, Barclays lifted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $121.71.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. In the last three months, insiders sold 240,007 shares of company stock valued at $23,649,959. Insiders own 1.90% of the company's stock.

Iron Mountain Price Performance

NYSE IRM opened at $101.53 on Friday. The stock's 50 day simple moving average is $98.73 and its 200 day simple moving average is $96.13. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a market cap of $29.95 billion, a PE ratio of 247.62 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

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.

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