Lamar Advertising Co. (LAMR) Shares Sold by Hamlin Capital Management LLC
Hamlin Capital Management LLC decreased its stake in shares of Lamar Advertising Co. (NASDAQ:LAMR) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 960,411 shares of the company’s stock after selling 5,301 shares during the period. Lamar Advertising accounts for approximately 3.1% of Hamlin Capital Management LLC’s portfolio, making the stock its 14th largest position. Hamlin Capital Management LLC owned 0.99% of Lamar Advertising worth $63,675,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Chesley Taft & Associates LLC raised its stake in shares of Lamar Advertising by 0.3% in the second quarter. Chesley Taft & Associates LLC now owns 14,400 shares of the company’s stock valued at $955,000 after buying an additional 50 shares in the last quarter. Regent Investment Management LLC raised its stake in shares of Lamar Advertising by 0.8% in the second quarter. Regent Investment Management LLC now owns 12,975 shares of the company’s stock valued at $860,000 after buying an additional 100 shares in the last quarter. IBM Retirement Fund raised its stake in shares of Lamar Advertising by 1.4% in the second quarter. IBM Retirement Fund now owns 8,285 shares of the company’s stock valued at $549,000 after buying an additional 117 shares in the last quarter. Sii Investments Inc. WI raised its stake in shares of Lamar Advertising by 2.2% in the first quarter. Sii Investments Inc. WI now owns 6,038 shares of the company’s stock valued at $368,000 after buying an additional 130 shares in the last quarter. Finally, Capital One National Association raised its stake in shares of Lamar Advertising by 0.7% in the second quarter. Capital One National Association now owns 41,398 shares of the company’s stock valued at $2,745,000 after buying an additional 286 shares in the last quarter. 80.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded up 0.49% on Wednesday, reaching $65.36. The company’s stock had a trading volume of 300,592 shares. Lamar Advertising Co. has a 12-month low of $49.73 and a 12-month high of $69.35. The company’s 50-day moving average is $62.54 and its 200 day moving average is $63.47. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 21.52 and a beta of 1.79.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The firm earned $387.50 million during the quarter, compared to analysts’ expectations of $384.09 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. Equities analysts anticipate that Lamar Advertising Co. will post $3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $3.04 annualized dividend and a dividend yield of 4.65%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s payout ratio is currently 99.67%.
Several research analysts have recently weighed in on the company. Loop Capital assumed coverage on Lamar Advertising in a research note on Monday, September 12th. They set a “buy” rating for the company. Gabelli downgraded Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Thursday, July 21st. Finally, Zacks Investment Research downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $66.38.
About Lamar Advertising
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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