Franklin Resources Inc. Buys New Holdings in Lineage, Inc. (NASDAQ:LINE)

Franklin Resources Inc. purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,555 shares of the company’s stock, valued at approximately $208,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the period. Stifel Financial Corp acquired a new position in Lineage during the third quarter valued at approximately $211,000. EntryPoint Capital LLC purchased a new stake in Lineage during the fourth quarter worth approximately $289,000. M&T Bank Corp increased its position in shares of Lineage by 9.7% in the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after acquiring an additional 439 shares in the last quarter. Finally, EPIQ Capital Group LLC raised its stake in shares of Lineage by 10.9% in the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock valued at $301,000 after acquiring an additional 500 shares during the period.

Lineage Stock Performance

Lineage stock opened at $55.91 on Friday. Lineage, Inc. has a 12 month low of $46.63 and a 12 month high of $89.85. The company has a fifty day moving average price of $56.98 and a two-hundred day moving average price of $61.91. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LINE. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They issued a “neutral” rating and a $64.00 price target for the company. BNP Paribas started coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. Scotiabank reissued a “sector perform” rating and set a $56.00 price target (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Barclays assumed coverage on shares of Lineage in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lineage has a consensus rating of “Moderate Buy” and an average target price of $77.63.

Lineage 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.