Strs Ohio Acquires Shares of 97,600 Lineage, Inc. $LINE

Strs Ohio acquired a new stake in Lineage, Inc. (NASDAQ:LINE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 97,600 shares of the company’s stock, valued at approximately $5,722,000.

A number of other large investors have also recently made changes to their positions in LINE. Costello Asset Management INC bought a new position in shares of Lineage in the first quarter valued at $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage during the first quarter valued at about $34,000. PNC Financial Services Group Inc. lifted its position in shares of Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after purchasing an additional 460 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Lineage during the first quarter valued at about $74,000. Finally, Quarry LP lifted its position in shares of Lineage by 168.4% during the first quarter. Quarry LP now owns 2,308 shares of the company’s stock valued at $135,000 after purchasing an additional 1,448 shares in the last quarter.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of recent analyst reports. BNP Paribas Exane lowered shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research report on Thursday, June 12th. JPMorgan Chase & Co. lowered shares of Lineage from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $55.00 to $50.00 in a research report on Monday, June 23rd. UBS Group dropped their price target on shares of Lineage from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird dropped their price target 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, Bank of America reissued an “underperform” rating and set a $42.00 price target (down from $47.00) on shares of Lineage in a research report on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.79.

Insider Activity at Lineage

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

Lineage Price Performance

LINE opened at $41.79 on Monday. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of -14.98 and a beta of -0.22. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $41.87 and a 200-day moving average price of $47.71. Lineage, Inc. has a twelve month low of $38.83 and a twelve month high of $84.86.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 5.0%. Lineage’s payout ratio is currently -75.63%.

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.