Palouse Capital Management Inc. Has $3.80 Million Position in Lamar Advertising (NASDAQ:LAMR)

Palouse Capital Management Inc. decreased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,746 shares of the real estate investment trust’s stock after selling 725 shares during the quarter. Lamar Advertising makes up 2.7% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Palouse Capital Management Inc.’s holdings in Lamar Advertising were worth $3,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Greenleaf Trust grew its stake in shares of Lamar Advertising by 17.3% during the 4th quarter. Greenleaf Trust now owns 5,959 shares of the real estate investment trust’s stock worth $633,000 after acquiring an additional 878 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in Lamar Advertising by 1.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 56,213 shares of the real estate investment trust’s stock worth $5,974,000 after purchasing an additional 719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lamar Advertising by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,742 shares of the real estate investment trust’s stock worth $1,673,000 after purchasing an additional 1,289 shares during the period. Mackenzie Financial Corp bought a new position in Lamar Advertising in the 4th quarter worth about $13,574,000. Finally, Louisiana State Employees Retirement System bought a new position in Lamar Advertising in the 4th quarter worth about $2,614,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR traded up $0.72 during trading hours on Friday, reaching $111.44. 290,850 shares of the company’s stock traded hands, compared to its average volume of 410,811. The stock has a market cap of $11.37 billion, a PE ratio of 22.98 and a beta of 1.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm’s 50 day simple moving average is $113.41 and its 200-day simple moving average is $103.09. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $121.99.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The firm had revenue of $555.91 million for the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same period in the prior year, the business posted $1.91 earnings per share. Equities analysts expect that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.30 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Thursday, March 14th. Lamar Advertising’s payout ratio is 107.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on LAMR. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.98% of the company’s stock.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.