Lineage, Inc. $LINE Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Lineage, Inc. by 29.7% in the first quarter, selling 15,125 shares and bringing its total holdings to approximately $2.02 million.
• Chairman Kevin Patrick Marchetti acquired 12,345 shares at around $40.44 per share, increasing his ownership in the company by 19.81%.
• Lineage recently announced a quarterly dividend of $0.5275 per share, with a yield of 5.0%, and reported quarterly earnings exceeding analysts' expectations.

Amundi cut its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 29.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,816 shares of the company's stock after selling 15,125 shares during the quarter. Amundi's holdings in Lineage were worth $2,020,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LINE. Price T Rowe Associates Inc. MD lifted its position in shares of Lineage by 75.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock valued at $255,903,000 after buying an additional 1,880,587 shares during the last quarter. Nuveen LLC acquired a new position in Lineage in the 1st quarter worth approximately $37,468,000. Lunate Capital Ltd acquired a new position in Lineage in the 1st quarter worth approximately $35,178,000. American Century Companies Inc. increased its holdings in Lineage by 1,396.7% in the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company's stock worth $13,535,000 after buying an additional 215,423 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Lineage by 3,352.1% during the 1st quarter. Russell Investments Group Ltd. now owns 135,530 shares of the company's stock worth $7,946,000 after purchasing an additional 131,604 shares during the period.

Lineage Trading Up 1.6%

LINE traded up $0.67 on Monday, hitting $42.46. The company had a trading volume of 1,090,873 shares, compared to its average volume of 1,034,866. The firm has a market cap of $9.71 billion, a P/E ratio of -15.22 and a beta of -0.22. Lineage, Inc. has a 1 year low of $38.83 and a 1 year high of $84.86. The company's fifty day moving average price is $41.87 and its 200 day moving average price is $47.71. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 5.76% and a negative net margin of 10.57%.Lineage's quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect 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 will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.0%. Lineage's payout ratio is currently -75.63%.

Wall Street Analyst Weigh In

LINE has been the topic of a number of analyst reports. BNP Paribas set a $42.00 price objective on shares of Lineage in a research note on Thursday, June 12th. Truist Financial decreased their price objective on Lineage from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Barclays decreased their price objective on Lineage from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday. Evercore ISI raised their price objective on Lineage from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Monday. Finally, Scotiabank decreased their price objective on Lineage from $49.00 to $43.00 and set a "sector perform" rating on the stock in a report on Friday, September 5th. Seven 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.84.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $42.28 per share, with a total value of $995,271.20. Following the completion of the transaction, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. This represents a 60.70% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares of the company's stock, valued at approximately $338,878.35. This represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 39,448 shares of company stock valued at $1,645,752. Corporate insiders own 71.90% of the company's stock.

Lineage 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.