Tealwood Asset Management Inc. decreased its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,735 shares of the company’s stock after selling 485 shares during the period. Lamar Advertising makes up approximately 2.1% of Tealwood Asset Management Inc.’s portfolio, making the stock its 10th largest position. Tealwood Asset Management Inc.’s holdings in Lamar Advertising were worth $4,623,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Artemis Investment Management LLP raised its stake in Lamar Advertising by 61.3% in the second quarter. Artemis Investment Management LLP now owns 318,656 shares of the company’s stock worth $21,131,000 after buying an additional 121,096 shares in the last quarter. Bank of Montreal Can purchased a new stake in Lamar Advertising during the second quarter worth approximately $6,808,000. TIAA CREF Investment Management LLC raised its stake 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 worth $13,167,000 after buying an additional 83,800 shares in the last quarter. Nicholas Investment Partners LP purchased a new stake in Lamar Advertising during the first quarter worth approximately $2,993,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Lamar Advertising by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,644,335 shares of the company’s stock worth $162,627,000 after buying an additional 42,567 shares in the last quarter. 80.05% of the stock is owned by institutional investors.
Shares of Lamar Advertising Co (NASDAQ:LAMR) traded up 0.70% during trading on Friday, reaching $64.93. 822,033 shares of the company traded hands. The stock’s 50 day moving average price is $63.35 and its 200-day moving average price is $63.81. The stock has a market cap of $6.33 billion, a P/E ratio of 21.38 and a beta of 1.69. Lamar Advertising Co has a 12 month low of $49.73 and a 12 month high of $69.35.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. The firm earned $387.50 million during the quarter, compared to analyst estimates of $384.09 million. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. On average, equities research analysts expect that Lamar Advertising Co will post $3.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a dividend of $0.76 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Wednesday, September 14th. Lamar Advertising’s payout ratio is presently 99.67%.
A number of research firms have recently issued reports on LAMR. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Loop Capital began coverage on shares of Lamar Advertising in a research report on Monday, September 12th. They issued a “buy” rating for the company. Finally, Gabelli lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research report on Thursday, July 21st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus 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.