Greenleaf Trust decreased its stake in Lamar Advertising Co. (NASDAQ:LAMR) by 9.3% during the second quarter, Holdings Channel reports. The fund owned 12,700 shares of the company’s stock after selling 1,300 shares during the period. Greenleaf Trust’s holdings in Lamar Advertising were worth $842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Lamar Advertising during the fourth quarter valued at $41,722,000. Artemis Investment Management LLP raised its position in Lamar Advertising by 61.3% in the second quarter. Artemis Investment Management LLP now owns 318,656 shares of the company’s stock valued at $21,131,000 after buying an additional 121,096 shares during the last quarter. Bank of Montreal Can purchased a new position in Lamar Advertising during the second quarter valued at $6,808,000. TIAA CREF Investment Management LLC raised its position in Lamar Advertising by 64.3% in the first quarter. TIAA CREF Investment Management LLC now owns 214,105 shares of the company’s stock valued at $13,167,000 after buying an additional 83,800 shares during the last quarter. Finally, Menta Capital LLC raised its position in Lamar Advertising by 229.9% in the first quarter. Menta Capital LLC now owns 77,200 shares of the company’s stock valued at $4,748,000 after buying an additional 53,800 shares during the last quarter. 80.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded down 0.63% on Thursday, reaching $64.22. 501,086 shares of the company’s stock were exchanged. Lamar Advertising Co. has a 52-week low of $49.73 and a 52-week high of $69.35. The company’s 50 day moving average price is $63.04 and its 200-day moving average price is $63.69. The stock has a market cap of $6.26 billion, a P/E ratio of 21.15 and a beta of 1.69.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Tuesday, August 9th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. The firm earned $387.50 million during the quarter, compared to the consensus estimate of $384.09 million. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Equities analysts forecast that Lamar Advertising Co. will post $3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $3.04 annualized dividend and a dividend yield of 4.70%. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio is currently 99.67%.
Several research analysts recently weighed in on LAMR shares. Loop Capital started coverage on shares of Lamar Advertising in a research note on Monday, September 12th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Gabelli lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research note on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lamar Advertising has an average rating of “Hold” and a consensus price target of $66.38.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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