Bessemer Group Inc. Acquires 19,943 Shares of Lineage, Inc. $LINE

Bessemer Group Inc. raised its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 997,150.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,945 shares of the company’s stock after buying an additional 19,943 shares during the quarter. Bessemer Group Inc.’s holdings in Lineage were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Lineage in the fourth quarter valued at $482,255,000. Morgan Stanley raised its stake in Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Darlington Partners Capital Management LP lifted its position in Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. AQR Capital Management LLC lifted its position in Lineage by 636.1% during the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock valued at $46,273,000 after purchasing an additional 1,149,686 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Lineage by 677.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 975,950 shares of the company’s stock worth $34,158,000 after buying an additional 850,380 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler raised their price target on Lineage from $35.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore set a $44.00 target price on shares of Lineage in a research note on Monday, June 8th. UBS Group raised their target price on shares of Lineage from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Wells Fargo & Company dropped their price target on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Barclays upped their price target on shares of Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage presently has an average rating of “Hold” and a consensus target price of $42.94.

Lineage Trading Up 1.1%

Shares of Lineage stock opened at $41.42 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $42.74 and its 200-day simple moving average is $38.89. The stock has a market cap of $9.43 billion, a P/E ratio of -66.81 and a beta of 0.85. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $45.75.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $1.01. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. Lineage’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Analysts predict that Lineage, Inc. will post 2.44 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 annualized dividend and a yield of 5.1%. Lineage’s dividend payout ratio is -343.55%.

Lineage Company 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.