Brookstone Capital Management Decreases Stock Holdings in Iron Mountain Incorporated $IRM

Brookstone Capital Management decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 6.4% during the second quarter, Holdings Channel.com reports. The fund owned 148,060 shares of the financial services provider’s stock after selling 10,161 shares during the quarter. Brookstone Capital Management’s holdings in Iron Mountain were worth $15,187,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. D.A. Davidson & CO. boosted its stake in shares of Iron Mountain by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 29,532 shares of the financial services provider’s stock valued at $3,029,000 after purchasing an additional 316 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Iron Mountain by 7.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,158 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 158 shares in the last quarter. Aurora Investment Counsel boosted its stake in shares of Iron Mountain by 1.9% during the 2nd quarter. Aurora Investment Counsel now owns 25,938 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 494 shares in the last quarter. Avidian Wealth Enterprises LLC bought a new stake in shares of Iron Mountain during the 2nd quarter valued at about $216,000. Finally, Balboa Wealth Partners bought a new stake in shares of Iron Mountain during the 2nd quarter valued at about $216,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $104.49 on Wednesday. The firm’s 50 day moving average price is $98.24 and its 200-day moving average price is $96.41. The company has a market cap of $30.86 billion, a PE ratio of 746.42 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares of the company’s stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock valued at $20,347,156 over the last three months. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective on the stock. Zacks Research lowered shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Company Profile

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.