Lamar Advertising Co. (LAMR) Stake Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. lowered its position in Lamar Advertising Co. (NASDAQ:LAMR) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,347 shares of the company’s stock after selling 30,669 shares during the period. Ameriprise Financial Inc. owned about 0.27% of Lamar Advertising worth $17,394,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in LAMR. Pioneer Investment Management Inc. increased its position in Lamar Advertising by 4.8% in the fourth quarter. Pioneer Investment Management Inc. now owns 23,817 shares of the company’s stock valued at $1,429,000 after buying an additional 1,100 shares during the last quarter. Norges Bank purchased a new position in Lamar Advertising during the fourth quarter valued at approximately $41,722,000. Boston Advisors LLC increased its position in Lamar Advertising by 13.6% in the first quarter. Boston Advisors LLC now owns 7,490 shares of the company’s stock valued at $461,000 after buying an additional 895 shares during the last quarter. Forte Capital LLC ADV purchased a new position in Lamar Advertising during the first quarter valued at approximately $810,000. Finally, Douglas Lane & Associates LLC purchased a new position in Lamar Advertising during the first quarter valued at approximately $6,332,000. 80.05% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Co. (NASDAQ:LAMR) traded up 1.57% during midday trading on Wednesday, reaching $64.63. The company’s stock had a trading volume of 809,352 shares. Lamar Advertising Co. has a 12 month low of $49.73 and a 12 month high of $69.35. The company has a market cap of $6.30 billion, a PE ratio of 21.28 and a beta of 1.79. The stock has a 50-day moving average price of $62.65 and a 200 day moving average price of $63.25.
Lamar Advertising (NASDAQ:LAMR) last posted 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. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. The firm had revenue of $387.50 million for the quarter, compared to analysts’ expectations of $384.09 million. During the same quarter last year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts expect that Lamar Advertising Co. will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.04 annualized dividend and a dividend yield of 4.78%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio (DPR) is currently 99.67%.
Several equities analysts have recently commented on LAMR shares. Zacks Investment Research raised Lamar Advertising from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, July 4th. Gabelli downgraded Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research report on Thursday, July 21st. Finally, Loop Capital started coverage on Lamar Advertising in a research report on Monday, September 12th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Lamar Advertising has an average rating of “Hold” and a consensus target price 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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