The Manufacturers Life Insurance Company Takes Position in Lineage, Inc. $LINE

The Manufacturers Life Insurance Company purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,680 shares of the company’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors have also modified their holdings of LINE. Public Employees Retirement System of Ohio grew its position in Lineage by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after acquiring an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares in the last quarter. Vanderbilt University increased its position in shares of Lineage by 4.1% during the first quarter. Vanderbilt University now owns 10,925 shares of the company’s stock worth $358,000 after acquiring an additional 431 shares during the period. Allworth Financial LP raised its stake in shares of Lineage by 106.6% in the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after acquiring an additional 485 shares in the last quarter. Finally, Amundi raised its stake in shares of Lineage by 1.5% in the third quarter. Amundi now owns 35,805 shares of the company’s stock valued at $1,481,000 after acquiring an additional 512 shares in the last quarter.

Lineage Stock Performance

NASDAQ:LINE opened at $38.17 on Friday. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $45.75. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The firm has a market capitalization of $8.69 billion, a PE ratio of -53.01 and a beta of 0.82. The business’s fifty day moving average price is $42.09 and its 200 day moving average price is $39.84.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.Lineage’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. On average, sell-side analysts anticipate that Lineage, Inc. will post 2.51 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.5325 per share. This represents a $2.13 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Lineage’s dividend payout ratio (DPR) is -295.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial boosted their target price on Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Scotiabank reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Lineage in a research note on Thursday, June 18th. The Goldman Sachs Group set a $53.00 price objective on Lineage in a research note on Wednesday, August 12th. Evercore set a $44.00 target price on shares of Lineage in a research note on Monday, June 8th. Finally, Robert W. Baird set a $43.00 target price on shares of Lineage in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Insider Activity at Lineage

In related news, CFO Robb A. Lemasters purchased 20,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the purchase, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. This trade represents a 67.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Kevin Marchetti acquired 25,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman owned 138,690 shares of the company’s stock, valued at $5,478,255. This represents a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is owned by insiders.

About Lineage

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.