Bank of New York Mellon Corp Acquires 543,439 Shares of Lineage, Inc. $LINE

Key Points

• Bank of New York Mellon increased its Lineage stake by 139%, purchasing 543,439 additional shares to own 934,333 shares valued at approximately $30.6 million, or 0.41% of the company.
• Wall Street’s consensus rating remains Hold, with four Buy, ten Hold, and four Sell ratings and an average price target of $42.94. Recent targets range from $36 to $47.
• Lineage beat quarterly earnings expectations with $0.78 EPS versus a projected loss of $0.23, while revenue reached $1.30 billion. The company also declared a quarterly dividend of $0.5325, representing a 5.1% annualized yield.

Bank of New York Mellon Corp raised its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 139.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 934,333 shares of the company's stock after purchasing an additional 543,439 shares during the quarter. Bank of New York Mellon Corp owned 0.41% of Lineage worth $30,609,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its position in shares of Lineage by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company's stock worth $874,000 after acquiring an additional 350 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Vanderbilt University grew its holdings in shares of Lineage by 4.1% in the 1st quarter. Vanderbilt University now owns 10,925 shares of the company's stock worth $358,000 after purchasing an additional 431 shares during the last quarter. Allworth Financial LP lifted its holdings in Lineage by 106.6% during the 4th quarter. Allworth Financial LP now owns 940 shares of the company's stock valued at $33,000 after purchasing an additional 485 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Lineage by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,005 shares of the company's stock valued at $70,000 after buying an additional 502 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LINE. Morgan Stanley lifted their target price on shares of Lineage from $39.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 2nd. Evercore set a $44.00 price objective on shares of Lineage in a research report on Monday, June 8th. Truist Financial boosted their target price on Lineage from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Lineage from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 19th. Finally, 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. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $42.94.

Lineage Price Performance

Lineage stock opened at $41.42 on Monday. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of -66.81 and a beta of 0.85. The company's 50 day simple moving average is $42.74 and its 200 day simple moving average is $38.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76. Lineage, Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of ($0.23) by $1.01. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business's quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.44 EPS for the current year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were issued a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Tuesday, June 30th. 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.

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