Susquehanna Fundamental Investments LLC Invests $707,000 in Iron Mountain Incorporated (NYSE:IRM)

Susquehanna Fundamental Investments LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,731 shares of the financial services provider's stock, valued at approximately $707,000.

Several other large investors have also recently added to or reduced their stakes in IRM. Wealthfront Advisers LLC lifted its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank purchased a new position in Iron Mountain during the fourth quarter worth approximately $348,249,000. TD Asset Management Inc. boosted its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter valued at $55,271,000. Finally, Invesco Ltd. increased its holdings in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after buying an additional 363,783 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock traded down $0.20 on Tuesday, hitting $96.97. The stock had a trading volume of 1,532,286 shares, compared to its average volume of 1,837,760. The stock's 50 day moving average is $86.01 and its 200-day moving average is $101.74. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 158.97, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 249,848 shares of company stock worth $22,470,124. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IRM shares. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $121.29.

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.