Northwestern Mutual Investment Management Company LLC Reduces Stake in Lamar Advertising Co (NASDAQ:LAMR)

Northwestern Mutual Investment Management Company LLC trimmed its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,151 shares of the real estate investment trust’s stock after selling 933 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Lamar Advertising were worth $1,201,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Lamar Advertising by 4.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 486,289 shares of the real estate investment trust’s stock valued at $38,543,000 after acquiring an additional 20,108 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Lamar Advertising by 65.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 61,937 shares of the real estate investment trust’s stock valued at $4,909,000 after acquiring an additional 24,591 shares during the last quarter. Financial Counselors Inc. bought a new stake in shares of Lamar Advertising in the 1st quarter valued at about $212,000. California State Teachers Retirement System lifted its stake in shares of Lamar Advertising by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 135,113 shares of the real estate investment trust’s stock valued at $10,709,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Crawford Investment Counsel Inc. lifted its stake in shares of Lamar Advertising by 6.4% in the 1st quarter. Crawford Investment Counsel Inc. now owns 19,190 shares of the real estate investment trust’s stock valued at $1,521,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors own 81.01% of the company’s stock.

A number of equities research analysts have recently weighed in on LAMR shares. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. BidaskClub lowered Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Lamar Advertising has an average rating of “Hold” and an average target price of $78.50.

In other Lamar Advertising news, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the sale, the director now directly owns 38,708 shares in the company, valued at approximately $3,137,283.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith A. Istre sold 16,294 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $80.28, for a total value of $1,308,082.32. Following the completion of the transaction, the chief financial officer now owns 118,991 shares in the company, valued at $9,552,597.48. The disclosure for this sale can be found here. Corporate insiders own 15.19% of the company’s stock.

Shares of NASDAQ:LAMR traded up $0.50 during trading on Friday, hitting $80.71. The stock had a trading volume of 273,601 shares, compared to its average volume of 352,571. Lamar Advertising Co has a 12 month low of $64.51 and a 12 month high of $84.50. The company has a market cap of $7.92 billion, a P/E ratio of 14.67 and a beta of 1.00. The company has a fifty day moving average of $80.77. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.52 and a quick ratio of 0.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million during the quarter, compared to analysts’ expectations of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, equities analysts expect that Lamar Advertising Co will post 5.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.84 annualized dividend and a dividend yield of 4.76%. Lamar Advertising’s payout ratio is currently 69.82%.

Lamar Advertising Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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.

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

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