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

Brookstone Capital Management lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 33.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 122,859 shares of the financial services provider’s stock after acquiring an additional 31,064 shares during the period. Brookstone Capital Management’s holdings in Iron Mountain were worth $12,914,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IRM. OneDigital Investment Advisors LLC grew its holdings in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the period. Assenagon Asset Management S.A. grew its holdings in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the period. Geller Advisors LLC grew its holdings in Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares during the period. Schmidt P J Investment Management Inc. grew its holdings in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC grew its holdings in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $102.23 on Tuesday. The company’s fifty day simple moving average is $112.30 and its 200-day simple moving average is $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. The firm has a market cap of $30.00 billion, a PE ratio of 283.98, a P/E/G ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a 12 month low of $64.68 and a 12 month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. 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 company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock valued at $13,666,427 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.