Hedeker Wealth LLC Increases Holdings in Lamar Advertising (NASDAQ:LAMR)

Hedeker Wealth LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,919 shares of the real estate investment trust’s stock after acquiring an additional 296 shares during the quarter. Hedeker Wealth LLC’s holdings in Lamar Advertising were worth $2,140,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Lamar Advertising during the 1st quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Lamar Advertising in the 4th quarter valued at approximately $30,000. Quarry LP lifted its stake in Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Lamar Advertising by 85.8% in the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 145 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new stake in Lamar Advertising in the 4th quarter valued at approximately $57,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director John E. Koerner III sold 17,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now directly owns 32,178 shares in the company, valued at approximately $3,862,968.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 14.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st.

Lamar Advertising Price Performance

LAMR stock traded up $0.06 on Wednesday, reaching $118.63. The company had a trading volume of 14,739 shares, compared to its average volume of 403,735. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The company’s fifty day moving average is $117.48 and its 200 day moving average is $112.67. The company has a market cap of $12.13 billion, a P/E ratio of 24.35 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. During the same period in the prior year, the company earned $1.41 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, research analysts forecast that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s dividend payout ratio is presently 106.78%.

Lamar Advertising Company 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.