Brookstone Capital Management Has $21.15 Million Stake in Iron Mountain Incorporated $IRM

Brookstone Capital Management boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 40.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,443 shares of the financial services provider’s stock after purchasing an additional 59,383 shares during the period. Brookstone Capital Management owned 0.07% of Iron Mountain worth $21,147,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IRM. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Iron Mountain in the second quarter worth $51,000. Caitong International Asset Management Co. Ltd lifted its stake in Iron Mountain by 111.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 343 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Iron Mountain during the 2nd quarter worth about $79,000. Elevation Point Wealth Partners LLC acquired a new stake in Iron Mountain during the 2nd quarter worth about $81,000. Finally, MUFG Securities EMEA plc purchased a new position in Iron Mountain during the 2nd quarter valued at about $89,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on IRM shares. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group started coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Barclays upped their price target on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.80.

Iron Mountain Stock Down 0.4%

Shares of IRM opened at $80.47 on Thursday. The company’s fifty day moving average is $91.97 and its 200-day moving average is $96.10. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $112.18. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 151.83 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. Iron Mountain’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.864 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 4.3%. Iron Mountain’s dividend payout ratio is currently 652.83%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $100.82, for a total transaction of $736,590.92. Following the completion of the sale, the executive vice president owned 73,081 shares of the company’s stock, valued at $7,368,026.42. The trade was a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,681 shares of company stock worth $21,799,375. 1.90% of the stock is currently owned by insiders.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.