Lamar Advertising Company $LAMR Stock Position Lifted by Machina Capital S.A.S.

Machina Capital S.A.S. increased its position in Lamar Advertising Company (NASDAQ:LAMR) by 153.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,113 shares of the real estate investment trust’s stock after purchasing an additional 5,524 shares during the period. Machina Capital S.A.S.’s holdings in Lamar Advertising were worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund purchased a new stake in Lamar Advertising during the 3rd quarter valued at $1,564,000. Lido Advisors LLC increased its position in shares of Lamar Advertising by 23.1% in the third quarter. Lido Advisors LLC now owns 4,152 shares of the real estate investment trust’s stock valued at $598,000 after acquiring an additional 780 shares during the period. AlphaCore Capital LLC increased its position in shares of Lamar Advertising by 28.5% in the third quarter. AlphaCore Capital LLC now owns 6,907 shares of the real estate investment trust’s stock valued at $995,000 after acquiring an additional 1,532 shares during the period. M Holdings Securities Inc. purchased a new position in shares of Lamar Advertising in the third quarter valued at about $203,000. Finally, Uhlmann Price Securities LLC increased its position in shares of Lamar Advertising by 37.6% in the third quarter. Uhlmann Price Securities LLC now owns 4,340 shares of the real estate investment trust’s stock valued at $625,000 after acquiring an additional 1,185 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $159.65 on Friday. The stock has a fifty day moving average of $150.61 and a 200 day moving average of $145.97. Lamar Advertising Company has a 52 week low of $122.31 and a 52 week high of $166.33. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of 28.16 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 21st. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.60. Lamar Advertising’s payout ratio is presently 116.40%.

Insider Buying and Selling at Lamar Advertising

In other news, Director Thomas V. Reifenheiser sold 8,099 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $149.03, for a total value of $1,206,993.97. Following the completion of the sale, the director directly owned 36,387 shares of the company’s stock, valued at approximately $5,422,754.61. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jay Johnson sold 7,600 shares of Lamar Advertising stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $156.92, for a total transaction of $1,192,592.00. The SEC filing for this sale provides additional information. 15.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LAMR shares. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $160.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Morgan Stanley set a $170.00 price target on Lamar Advertising in a report on Friday, August 7th. Cfra downgraded Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $159.14.

Lamar Advertising Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.