Asset Management One Co. Ltd. Cuts Position in Lineage, Inc. $LINE

Asset Management One Co. Ltd. lessened its position in shares of Lineage, Inc. (NASDAQ:LINE) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,605 shares of the company’s stock after selling 2,695 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Lineage were worth $3,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. lifted its stake 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 worth $13,535,000 after acquiring an additional 215,423 shares during the last quarter. XTX Topco Ltd grew its stake in Lineage by 419.2% in the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock valued at $1,802,000 after purchasing an additional 24,814 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lineage by 8.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after purchasing an additional 43,242 shares in the last quarter. Nuveen LLC bought a new position in Lineage in the first quarter worth about $37,468,000. Finally, M&T Bank Corp raised its holdings in Lineage by 174.5% in the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after purchasing an additional 8,703 shares in the last quarter.

Insider Activity at Lineage

In other Lineage news, insider Sudarsan V. Thattai acquired 3,563 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $42.28 per share, with a total value of $995,271.20. Following the completion of the transaction, the chairman owned 62,323 shares of the company’s stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 39,448 shares of company stock valued at $1,645,752 over the last quarter. 71.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LINE shares. Evercore ISI dropped their target price on Lineage from $45.00 to $44.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Morgan Stanley dropped their target price on Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, September 22nd. UBS Group dropped their price target on Lineage from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada dropped their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Finally, Bank of America reiterated an “underperform” rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.61.

Lineage Price Performance

Shares of Lineage stock opened at $40.01 on Wednesday. The business has a 50 day simple moving average of $40.49 and a two-hundred day simple moving average of $43.76. Lineage, Inc. has a 12 month low of $36.66 and a 12 month high of $76.57. The stock has a market capitalization of $9.15 billion, a P/E ratio of -14.34 and a beta of -0.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. As a group, analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were given a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.3%. Lineage’s dividend payout ratio is -75.63%.

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.