Beck Mack & Oliver LLC Makes New Investment in Lamar Advertising Company $LAMR

Key Points

• Beck Mack & Oliver LLC made a new investment in Lamar Advertising Company, acquiring 12,465 shares worth approximately $1.4 million.
• Lamar Advertising reported strong earnings, with an EPS of $2.22 for the last quarter, exceeding estimates by $0.74.
• The company declared a quarterly dividend of $1.55 per share, resulting in an annualized dividend of $6.20, reflecting a 4.9% yield.

Beck Mack & Oliver LLC bought a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,465 shares of the real estate investment trust's stock, valued at approximately $1,418,000.

Several other large investors also recently modified their holdings of LAMR. Golden State Wealth Management LLC bought a new position in shares of Lamar Advertising in the first quarter worth about $28,000. HHM Wealth Advisors LLC raised its holdings in shares of Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 269 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 218 shares during the last quarter. Truvestments Capital LLC grew its position in Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 140 shares in the last quarter. Finally, MAI Capital Management increased its position in shares of Lamar Advertising by 44.0% during the 1st quarter. MAI Capital Management now owns 360 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $127.25 on Friday. The business's 50 day moving average price is $123.32 and its 200-day moving average price is $119.09. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $12.88 billion, a PE ratio of 29.59 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million for the quarter, compared to analysts' expectations of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, September 19th. Lamar Advertising's payout ratio is currently 144.19%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their target price for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Wells Fargo & Company cut their target price on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Lamar Advertising presently has an average rating of "Hold" and a consensus price target of $134.20.

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.

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