Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 47,458 shares of the company’s stock, valued at approximately $2,053,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lineage by 11.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock worth $32,415,000 after acquiring an additional 93,188 shares during the last quarter. Norges Bank acquired a new position in Lineage during the 4th quarter worth approximately $482,255,000. Y Intercept Hong Kong Ltd acquired a new position in Lineage during the 1st quarter worth approximately $2,009,000. Legal & General Group Plc lifted its stake in Lineage by 12.2% in the 4th quarter. Legal & General Group Plc now owns 428,280 shares of the company’s stock valued at $14,990,000 after purchasing an additional 46,488 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Lineage by 122.2% in the 1st quarter. Quantinno Capital Management LP now owns 104,661 shares of the company’s stock valued at $3,429,000 after purchasing an additional 57,553 shares during the last quarter.
Lineage Price Performance
LINE stock opened at $41.61 on Friday. The company has a fifty day moving average price of $42.58 and a 200-day moving average price of $39.71. The company has a market capitalization of $9.48 billion, a P/E ratio of -57.79 and a beta of 0.85. Lineage, Inc. has a 52-week low of $31.33 and a 52-week high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.
Lineage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were paid a $0.5325 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.1%. Lineage’s dividend payout ratio is presently -295.83%.
Insider Activity
In related news, CFO Robb A. Lemasters acquired 20,000 shares of the stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the transaction, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at $2,045,835. The trade was a 67.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 71.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on LINE. Evercore set a $44.00 price target on shares of Lineage in a report on Monday, June 8th. Morgan Stanley raised their price objective on Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Wells Fargo & Company reduced their price objective on Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Truist Financial upped their target price on Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.20.
Check Out Our Latest Analysis on LINE
Lineage Profile
Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.
Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.
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