Brookstone Capital Management Buys 31,064 Shares of Iron Mountain Incorporated (NYSE:IRM)

Brookstone Capital Management lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 33.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,859 shares of the financial services provider's stock after purchasing an additional 31,064 shares during the quarter. Brookstone Capital Management's holdings in Iron Mountain were worth $12,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of IRM. PNC Financial Services Group Inc. raised its holdings in Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock worth $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter worth $824,000. Tidal Investments LLC raised its stake in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Iron Mountain during the third quarter valued at about $24,122,000. Finally, World Investment Advisors LLC bought a new position in Iron Mountain during the third quarter valued at about $554,000. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on IRM shares. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Finally, 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 report on Monday, September 23rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $131.00.

Iron Mountain Stock Performance

IRM traded up $1.75 on Tuesday, reaching $103.99. The company had a trading volume of 1,371,703 shares, compared to its average volume of 2,028,670. The stock has a market cap of $30.52 billion, a P/E ratio of 288.87, a P/E/G ratio of 6.70 and a beta of 1.02. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain Incorporated has a fifty-two week low of $64.68 and a fifty-two week high of $130.24. The company's fifty day moving average is $112.30 and its 200 day moving average is $111.40.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.75%. Iron Mountain's dividend payout ratio is 794.44%.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm'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 owns 13,054 shares of the company's stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm'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 disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.