Punch & Associates Investment Management Inc. raised its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 3.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 64,181 shares of the real estate investment trust’s stock after purchasing an additional 2,382 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Lamar Advertising were worth $5,087,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc boosted its position in shares of Lamar Advertising by 7.5% during the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after buying an additional 867,169 shares during the period. BlackRock Inc. boosted its position in shares of Lamar Advertising by 2.7% during the fourth quarter. BlackRock Inc. now owns 8,390,109 shares of the real estate investment trust’s stock valued at $580,430,000 after buying an additional 218,645 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Lamar Advertising by 6,818.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,264,394 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lamar Advertising by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,288,461 shares of the real estate investment trust’s stock valued at $102,124,000 after buying an additional 32,416 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in shares of Lamar Advertising by 6.5% during the first quarter. OppenheimerFunds Inc. now owns 1,076,280 shares of the real estate investment trust’s stock valued at $85,306,000 after buying an additional 65,992 shares during the period. Institutional investors and hedge funds own 81.02% of the company’s stock.
LAMR has been the subject of a number of research reports. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. BidaskClub upgraded Lamar Advertising from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. MKM Partners boosted their price target on Lamar Advertising to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Finally, Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $78.50.
Shares of LAMR stock traded up $0.05 during trading hours on Friday, reaching $79.85. 292,835 shares of the company’s stock were exchanged, compared to its average volume of 269,521. The company has a market cap of $7.98 billion, a PE ratio of 14.52 and a beta of 1.00. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. Lamar Advertising Co has a fifty-two week low of $64.51 and a fifty-two week high of $83.51.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.43). The business had revenue of $384.50 million for the quarter, compared to analyst estimates of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities analysts forecast that Lamar Advertising Co will post 5.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Thursday, June 13th. Lamar Advertising’s payout ratio is presently 69.82%.
In other news, Director Thomas V. Reifenheiser sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the transaction, the director now directly owns 38,708 shares of the company’s stock, valued at $3,137,283.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Keith A. Istre sold 16,294 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $80.28, for a total value of $1,308,082.32. Following the transaction, the chief financial officer now directly owns 118,991 shares in the company, valued at $9,552,597.48. The disclosure for this sale can be found here. Corporate insiders own 15.19% of the company’s stock.
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Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
Further Reading: Futures Contract
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