Brookstone Capital Management Has $19.57 Million Stake in Iron Mountain Incorporated $IRM

Brookstone Capital Management grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 13.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,933 shares of the financial services provider’s stock after purchasing an additional 28,490 shares during the period. Brookstone Capital Management owned about 0.08% of Iron Mountain worth $19,571,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Quent Capital LLC bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $27,000. Johnson Financial Group Inc. acquired a new stake in Iron Mountain during the third quarter worth approximately $32,000. Wealth Watch Advisors INC bought a new position in Iron Mountain during the 3rd quarter worth $44,000. Global Wealth Strategies & Associates bought a new position in Iron Mountain during the 4th quarter worth $50,000. Finally, Washington Trust Advisors Inc. acquired a new position in Iron Mountain in the 3rd quarter valued at $54,000. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 137,133 shares of Iron Mountain stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $109.39, for a total value of $15,000,978.87. Following the transaction, the chief executive officer owned 295,975 shares in the company, valued at $32,376,705.25. The trade was a 31.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president directly owned 131,507 shares of the company’s stock, valued at $14,106,755.89. This trade represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 451,656 shares of company stock worth $47,428,673. Insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $97.38 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The stock’s fifty day moving average price is $101.96 and its two-hundred day moving average price is $96.62. The company has a market cap of $28.97 billion, a PE ratio of 202.86 and a beta of 1.13.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 annualized dividend and a yield of 3.5%. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IRM shares. Loop Capital set a $130.00 target price on Iron Mountain in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Barclays upped their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.60.

Iron Mountain Company Profile

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.