Lamar Advertising (NASDAQ:LAMR) Holdings Raised by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,680 shares of the real estate investment trust’s stock after purchasing an additional 347 shares during the quarter. Lamar Advertising makes up 3.1% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 6th biggest holding. Van Cleef Asset Management Inc’s holdings in Lamar Advertising were worth $22,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Lamar Advertising during the 3rd quarter worth about $30,000. Signaturefd LLC boosted its position in shares of Lamar Advertising by 43.7% during the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Arlington Trust Co LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth about $57,000. Sunbelt Securities Inc. boosted its position in shares of Lamar Advertising by 249.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 503 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $108,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Transactions at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 14.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley upped their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $1.25 during trading hours on Thursday, reaching $112.81. 331,701 shares of the company’s stock were exchanged, compared to its average volume of 405,066. The company has a market cap of $11.51 billion, a P/E ratio of 23.26 and a beta of 1.50. The company’s 50 day moving average is $114.02 and its two-hundred day moving average is $104.20. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $121.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.52 and a quick ratio of 0.52.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The business had revenue of $555.91 million for the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period last year, the company posted $1.91 earnings per share. Equities research analysts anticipate that Lamar Advertising will post 7.54 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.61%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date was Thursday, March 14th. Lamar Advertising’s dividend payout ratio is 107.22%.

About Lamar Advertising

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.