Mitsubishi UFJ Asset Management Co. Ltd. Acquires 1,692 Shares of Lineage, Inc. $LINE

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 4.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 42,590 shares of the company’s stock after purchasing an additional 1,692 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lineage were worth $1,854,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LINE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Lineage by 25.9% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 156,425 shares of the company’s stock valued at $6,808,000 after purchasing an additional 32,217 shares in the last quarter. Bank of Montreal Can bought a new position in Lineage in the second quarter worth approximately $300,000. Strs Ohio lifted its holdings in Lineage by 0.5% during the second quarter. Strs Ohio now owns 98,088 shares of the company’s stock worth $4,269,000 after buying an additional 488 shares during the period. Arkadios Wealth Advisors bought a new stake in Lineage during the 2nd quarter valued at $933,000. Finally, Envestnet Asset Management Inc. boosted its position in Lineage by 661.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 124,357 shares of the company’s stock valued at $5,412,000 after acquiring an additional 108,020 shares in the last quarter.

Lineage Price Performance

Shares of NASDAQ LINE opened at $33.36 on Friday. Lineage, Inc. has a fifty-two week low of $32.80 and a fifty-two week high of $66.38. The company has a market cap of $7.63 billion, a PE ratio of -42.23 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. The business has a 50-day simple moving average of $39.42 and a two-hundred day simple moving average of $42.27.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.5275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 6.3%. Lineage’s dividend payout ratio is presently -267.09%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LINE. Piper Sandler reissued a “neutral” rating and issued a $41.00 price target (down from $55.00) on shares of Lineage in a research report on Thursday, November 6th. The Goldman Sachs Group reduced their target price on shares of Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. UBS Group decreased their price target on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Robert W. Baird cut their price objective on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Finally, Scotiabank decreased their target price on shares of Lineage from $42.00 to $37.00 and set a “sector perform” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of “Reduce” and a consensus price target of $46.33.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste bought 74,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $33.83 per share, with a total value of $2,503,420.00. Following the transaction, the chairman directly owned 109,266 shares in the company, valued at approximately $3,696,468.78. The trade was a 209.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Crisci bought 10,000 shares of Lineage stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $34.56 per share, with a total value of $345,600.00. Following the purchase, the chief financial officer directly owned 107,859 shares in the company, valued at $3,727,607.04. The trade was a 10.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 110,845 shares of company stock valued at $3,837,192. Insiders own 71.90% of the company’s stock.

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.