Lineage, Inc. $LINE Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Lineage, Inc. by 3,352.1% during the first quarter, now owning 135,530 shares valued at approximately $7.95 million.
• Lineage reported a quarterly earnings per share of $0.81, surpassing analysts' expectations, with revenue growth of 0.9% compared to the previous year.
• The company has declared a quarterly dividend of $0.5275, yielding 5.3%, despite a current payout ratio of -75.63% due to negative net margins.

Russell Investments Group Ltd. raised its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 3,352.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,530 shares of the company's stock after acquiring an additional 131,604 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Lineage worth $7,946,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in Lineage during the first quarter worth approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of Lineage in the 1st quarter valued at $34,000. PNC Financial Services Group Inc. increased its holdings in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock valued at $43,000 after acquiring an additional 460 shares during the period. Quarry LP acquired a new position in shares of Lineage in the 4th quarter valued at $50,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Lineage in the 1st quarter valued at $74,000.

Insider Buying and Selling at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of Lineage stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the purchase, the chairman directly 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider directly owned 7,983 shares of the company's stock, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 39,448 shares of company stock worth $1,645,752 over the last 90 days. 71.90% of the stock is currently owned by company insiders.

Lineage Price Performance

Shares of Lineage stock traded up $1.19 on Friday, hitting $40.28. The company's stock had a trading volume of 859,690 shares, compared to its average volume of 1,192,532. Lineage, Inc. has a 52-week low of $38.83 and a 52-week high of $86.60. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $42.74 and a 200-day moving average price of $49.39. The company has a market capitalization of $9.21 billion and a P/E ratio of -14.44.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business's quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 5.2%. Lineage's dividend payout ratio (DPR) is -75.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LINE. UBS Group cut their target price on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Robert W. Baird cut their target price on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Bank of America reissued an "underperform" rating and issued a $42.00 price objective (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. The Goldman Sachs Group dropped their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Evercore ISI dropped their price objective on shares of Lineage from $59.00 to $45.00 and set an "in-line" rating on the stock in a research note on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.53.

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.