Brookstone Capital Management Acquires 59,383 Shares of Iron Mountain Incorporated $IRM

Brookstone Capital Management boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 40.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 207,443 shares of the financial services provider’s stock after purchasing an additional 59,383 shares during the quarter. Brookstone Capital Management’s holdings in Iron Mountain were worth $21,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Iron Mountain in the 2nd quarter worth approximately $419,457,000. Invesco Ltd. increased its position in Iron Mountain by 50.6% during the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after acquiring an additional 1,440,629 shares during the period. Contour Asset Management LLC acquired a new position in Iron Mountain during the 1st quarter valued at $122,801,000. Vontobel Holding Ltd. bought a new stake in Iron Mountain in the 3rd quarter valued at $109,941,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $85.00, for a total value of $510,000.00. Following the transaction, the executive vice president directly owned 61,081 shares in the company, valued at $5,191,885. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,681 shares of company stock worth $21,799,375 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Iron Mountain Stock Down 0.4%

Shares of IRM opened at $80.47 on Thursday. The company has a 50-day moving average price of $91.97 and a two-hundred day moving average price of $96.10. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 151.83 and a beta of 1.14. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $112.18.

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

Iron Mountain Increases Dividend

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

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.