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

Brookstone Capital Management grew its position in Iron Mountain Incorporated (NYSE:IRM) by 13.7% in the fourth quarter, Holdings Channel reports. The fund owned 235,933 shares of the financial services provider’s stock after acquiring an additional 28,490 shares during the quarter. Brookstone Capital Management’s holdings in Iron Mountain were worth $19,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Intact Investment Management Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $3,588,000. Sei Investments Co. increased its position in Iron Mountain by 4.2% in the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock valued at $90,783,000 after acquiring an additional 35,301 shares during the period. NewSquare Capital LLC increased its position in Iron Mountain by 4,867.6% in the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider’s stock valued at $1,205,000 after acquiring an additional 11,585 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Iron Mountain by 17.2% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock valued at $10,598,000 after acquiring an additional 15,225 shares during the last quarter. Finally, AGF Management Ltd. raised its stake in shares of Iron Mountain by 178.0% during the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after acquiring an additional 14,205 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In related news, EVP Mithu Bhargava sold 59,725 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $104.62, for a total value of $6,248,429.50. Following the transaction, the executive vice president owned 16,054 shares in the company, valued at $1,679,569.48. The trade was a 78.81% 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 137,133 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the sale, the chief executive officer directly owned 295,975 shares in the company, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 451,656 shares of company stock worth $47,428,673 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Iron Mountain Stock Performance

Iron Mountain stock opened at $97.38 on Tuesday. The firm has a market cap of $28.97 billion, a price-to-earnings ratio of 202.86 and a beta of 1.13. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $115.24. The firm has a 50 day moving average price of $101.96 and a two-hundred day moving average price of $96.62.

Iron Mountain Announces Dividend

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

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.