Aberdeen Group plc Boosts Stake in Lineage, Inc. $LINE

Aberdeen Group plc boosted its position in Lineage, Inc. (NASDAQ:LINE) by 27.8% in the second quarter, Holdings Channel.com reports. The firm owned 21,178 shares of the company’s stock after buying an additional 4,610 shares during the quarter. Aberdeen Group plc’s holdings in Lineage were worth $922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after purchasing an additional 1,880,587 shares in the last quarter. Nuveen LLC purchased a new position in shares of Lineage in the 1st quarter worth $37,468,000. Lunate Capital Ltd purchased a new position in Lineage in the first quarter worth about $35,178,000. American Century Companies Inc. increased its position in shares of Lineage by 1,396.7% during the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock valued at $13,535,000 after purchasing an additional 215,423 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Lineage by 197.0% in the first quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock worth $16,916,000 after buying an additional 191,362 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research downgraded Lineage from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Robert W. Baird lowered their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Scotiabank reduced their price target on shares of Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a report on Friday, September 5th. Bank of America restated an “underperform” rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Lineage from $44.00 to $43.00 and set an “underweight” rating on the stock in a report on Tuesday, September 23rd. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.83.

Lineage Stock Down 2.9%

NASDAQ:LINE opened at $39.85 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The company has a 50-day moving average of $40.46 and a 200 day moving average of $44.52. Lineage, Inc. has a 1-year low of $36.66 and a 1-year high of $79.14. The firm has a market cap of $9.12 billion, a PE ratio of -14.28 and a beta of -0.23.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.3%. Lineage’s payout ratio is -75.63%.

Insider Buying and Selling

In related news, insider Sudarsan V. Thattai purchased 3,563 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company’s stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the acquisition, the chairman directly owned 74,668 shares of the company’s stock, valued at $3,019,573.92. This represents a 19.81% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by insiders.

Lineage Company Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.