Sterling Capital Management LLC Raises Position in Lineage, Inc. (NASDAQ:LINE)

Sterling Capital Management LLC lifted its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 61.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,703 shares of the company’s stock after buying an additional 1,415 shares during the period. Sterling Capital Management LLC’s holdings in Lineage were worth $217,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 448 shares during the last quarter. FIL Ltd bought a new position in shares of Lineage during the fourth quarter valued at about $29,000. Franklin Resources Inc. purchased a new position in Lineage during the fourth quarter worth about $208,000. Stifel Financial Corp bought a new stake in Lineage in the 3rd quarter worth about $211,000. Finally, EntryPoint Capital LLC purchased a new stake in Lineage in the 4th quarter valued at about $289,000.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Morgan Stanley reduced their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Citigroup initiated coverage on Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Piper Sandler lowered their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.63.

Lineage Stock Up 1.9 %

LINE stock opened at $55.91 on Monday. The firm has a 50 day moving average of $56.98 and a 200-day moving average of $61.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a 12 month low of $46.63 and a 12 month high of $89.85.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.77%.

About Lineage

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.