Asset Management One Co. Ltd. Cuts Stock Holdings in Lineage, Inc. $LINE

Asset Management One Co. Ltd. decreased its position in Lineage, Inc. (NASDAQ:LINE) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,605 shares of the company’s stock after selling 2,695 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Lineage were worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Ethic Inc. bought a new stake in Lineage in the 2nd quarter worth approximately $403,000. Vanguard Personalized Indexing Management LLC lifted its position in Lineage by 24.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,684 shares of the company’s stock valued at $247,000 after purchasing an additional 1,134 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its position in Lineage by 24.4% in the second quarter. Villere ST Denis J & Co. LLC now owns 588,726 shares of the company’s stock valued at $25,621,000 after purchasing an additional 115,423 shares during the last quarter. Aberdeen Group plc lifted its position in Lineage by 27.8% in the second quarter. Aberdeen Group plc now owns 21,178 shares of the company’s stock valued at $922,000 after purchasing an additional 4,610 shares during the last quarter. Finally, First Pacific Financial lifted its position in Lineage by 16.8% in the second quarter. First Pacific Financial now owns 3,576 shares of the company’s stock valued at $156,000 after purchasing an additional 515 shares during the last quarter.

Analyst Ratings Changes

LINE has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Zacks Research downgraded Lineage from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Bank of America restated an “underperform” rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Robert W. Baird reduced their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Finally, Evercore ISI reduced their price target on Lineage from $45.00 to $44.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Lineage currently has an average rating of “Hold” and a consensus price target of $49.61.

Lineage Stock Down 4.1%

LINE stock opened at $40.01 on Wednesday. Lineage, Inc. has a fifty-two week low of $36.66 and a fifty-two week high of $76.57. The business’s 50-day moving average is $40.49 and its two-hundred day moving average is $43.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The company has a market cap of $9.15 billion, a price-to-earnings ratio of -14.34 and a beta of -0.23.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 5.3%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Insider Activity

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

Lineage Company 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.