Cullen Frost Bankers Inc. Has $221,000 Holdings in Iron Mountain Incorporated $IRM

Cullen Frost Bankers Inc. grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 7.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,158 shares of the financial services provider’s stock after purchasing an additional 158 shares during the period. Cullen Frost Bankers Inc.’s holdings in Iron Mountain were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Iron Mountain by 0.5% in the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after purchasing an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock valued at $366,210,000 after purchasing an additional 37,154 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $192,231,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after purchasing an additional 311,494 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Saturday. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Barclays raised 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by company insiders.

Iron Mountain Price Performance

IRM stock opened at $105.34 on Friday. The company has a fifty day moving average price of $98.96 and a two-hundred day moving average price of $96.98. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock has a market cap of $31.11 billion, a price-to-earnings ratio of 752.50 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is 2,242.86%.

Iron Mountain 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.