Brookwood Investment Group LLC Buys Shares of 2,602 Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Brookwood Investment Group LLC acquired 2,602 shares of Iron Mountain Incorporated, valued at approximately $224,000, during the first quarter.
• Iron Mountain reported a $1.17 EPS for the last quarter, slightly exceeding analysts' estimates, with a revenue growth of 7.9% year-over-year.
• The company recently declared a quarterly dividend of $0.785 per share, representing an annualized yield of 3.16% and a significant payout ratio of 765.85%.

Brookwood Investment Group LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,602 shares of the financial services provider's stock, valued at approximately $224,000.

Several other hedge funds have also bought and sold shares of IRM. Cranbrook Wealth Management LLC purchased a new stake in Iron Mountain during the first quarter valued at about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain in the first quarter worth about $30,000. Wayfinding Financial LLC purchased a new stake in shares of Iron Mountain in the first quarter worth about $37,000. Franchise Capital Ltd purchased a new stake in shares of Iron Mountain in the first quarter worth about $39,000. Finally, Crewe Advisors LLC increased its position in shares of Iron Mountain by 10,000.0% in the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of IRM stock traded down $0.76 during trading hours on Wednesday, reaching $98.67. 112,427 shares of the company traded hands, compared to its average volume of 1,837,129. The firm has a 50-day moving average price of $99.96 and a 200 day moving average price of $95.41. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The company has a market cap of $29.11 billion, a P/E ratio of 240.94 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the sale, the executive vice president directly owned 91,081 shares of the company's stock, valued at $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director directly owned 36,515 shares in the company, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,007 shares of company stock valued at $23,649,959. Company insiders own 1.90% of the company's stock.

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.