Hedeker Wealth LLC Has $4.21 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Hedeker Wealth LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,226 shares of the real estate investment trust’s stock after purchasing an additional 1,870 shares during the quarter. Hedeker Wealth LLC’s holdings in Lamar Advertising were worth $4,208,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in Lamar Advertising in the 4th quarter valued at $33,000. Dark Forest Capital Management LP purchased a new stake in Lamar Advertising in the 3rd quarter valued at $35,000. Industrial Alliance Investment Management Inc. purchased a new stake in Lamar Advertising in the 4th quarter valued at $37,000. UMB Bank N A MO bought a new position in Lamar Advertising in the 4th quarter valued at $38,000. Finally, Sageworth Trust Co of South Dakota bought a new position in Lamar Advertising in the 4th quarter valued at $42,000. 78.03% of the stock is currently owned by institutional investors.

Shares of NASDAQ:LAMR traded up $0.69 on Thursday, hitting $90.29. The company’s stock had a trading volume of 1,980 shares, compared to its average volume of 639,233. The company has a 50-day simple moving average of $100.27 and a 200 day simple moving average of $108.62. Lamar Advertising has a 1 year low of $83.96 and a 1 year high of $124.32. The company has a market capitalization of $9.16 billion, a PE ratio of 20.60 and a beta of 1.38. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.71 and a quick ratio of 0.71.

Lamar Advertising (NASDAQ:LAMRGet Rating) last released its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. The firm had revenue of $451.40 million for the quarter, compared to analysts’ expectations of $427.21 million. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. On average, equities research analysts expect that Lamar Advertising will post 6.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Monday, June 20th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 5.32%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Thursday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 110.35%.

LAMR has been the subject of several research reports. StockNews.com downgraded Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Morgan Stanley cut Lamar Advertising from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $135.00 to $103.00 in a report on Friday, June 10th. Finally, Wolfe Research initiated coverage on Lamar Advertising in a report on Tuesday, March 29th. They set a “market perform” rating and a $131.00 price objective on the stock.

Lamar Advertising Profile (Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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.

See Also

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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