The Manufacturers Life Insurance Company Increases Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

The Manufacturers Life Insurance Company boosted its stake in Lineage, Inc. (NASDAQ:LINE) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,855 shares of the company’s stock after buying an additional 532 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Lineage were worth $1,983,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LINE. GAMMA Investing LLC increased its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares during the last quarter. FIL Ltd bought a new position in shares of Lineage in the fourth quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Lineage during the fourth quarter valued at approximately $50,000. Stifel Financial Corp lifted its holdings in Lineage by 30.5% during the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock worth $206,000 after acquiring an additional 821 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Lineage in the fourth quarter worth $208,000.

Analyst Ratings Changes

LINE has been the subject of several research analyst reports. Evercore ISI decreased their target price on Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. UBS Group lowered their price objective on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Bank of America downgraded shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Tuesday, May 6th. The Goldman Sachs Group decreased their price target 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. Finally, Citigroup started coverage on Lineage in a research note on Friday, March 28th. They issued a “neutral” rating and a $64.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.79.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai purchased 4,420 shares of the company’s stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $45.23 per share, with a total value of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares in the company, valued at approximately $199,916.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the acquisition, the chairman now directly owns 27,733 shares in the company, valued at approximately $1,213,318.75. This represents a 70.84 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 40,237 shares of company stock worth $2,174,220 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Lineage Price Performance

LINE stock opened at $45.62 on Friday. The firm has a 50 day moving average of $55.05 and a 200-day moving average of $59.20. The firm has a market capitalization of $10.43 billion and a P/E ratio of -14.17. Lineage, Inc. has a 12 month low of $42.05 and a 12 month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.63%. Lineage’s dividend payout ratio is currently -65.53%.

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.