Stevens Capital Management LP Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

Stevens Capital Management LP bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,086 shares of the company’s stock, valued at approximately $1,352,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during the period. Larson Financial Group LLC acquired a new stake in Lineage during the 3rd quarter valued at approximately $34,000. Stifel Financial Corp acquired a new stake in Lineage during the 3rd quarter valued at approximately $211,000. MetLife Investment Management LLC acquired a new stake in Lineage during the 3rd quarter valued at approximately $226,000. Finally, M&T Bank Corp lifted its stake in Lineage by 9.7% during the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after acquiring an additional 439 shares during the period.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LINE. Mizuho decreased their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group decreased their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Piper Sandler decreased their target price on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada decreased their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Scotiabank boosted their target price on shares of Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Stock Down 3.2 %

NASDAQ:LINE opened at $58.40 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company has a fifty day moving average of $58.23 and a two-hundred day moving average of $65.66. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, March 31st.

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.