M&T Bank Corp Boosts Holdings in Lineage, Inc. (NASDAQ:LINE)

M&T Bank Corp grew its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 174.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,690 shares of the company's stock after purchasing an additional 8,703 shares during the quarter. M&T Bank Corp's holdings in Lineage were worth $803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Lineage by 197.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,798 shares of the company's stock valued at $30,620,000 after acquiring an additional 346,916 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lineage by 79.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,802 shares of the company's stock valued at $1,336,000 after acquiring an additional 10,096 shares in the last quarter. Cibc World Markets Corp raised its holdings in Lineage by 10.4% in the fourth quarter. Cibc World Markets Corp now owns 17,335 shares of the company's stock valued at $1,015,000 after acquiring an additional 1,640 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Lineage by 86.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,076 shares of the company's stock valued at $1,176,000 after acquiring an additional 9,298 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Lineage in the fourth quarter valued at approximately $2,159,000.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of research analyst reports. Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective on the stock. in a report on Tuesday, May 6th. Citigroup lowered their target price on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. KeyCorp restated a "sector weight" rating and set a $84.00 target price on shares of Lineage in a research report on Tuesday, July 1st. Scotiabank lowered their target price on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, BNP Paribas set a $42.00 target price on shares of Lineage in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.70.

Lineage Price Performance

Shares of NASDAQ LINE opened at $41.77 on Tuesday. The firm has a market capitalization of $9.55 billion and a P/E ratio of -12.97. Lineage, Inc. has a one year low of $41.61 and a one year high of $89.85. The company's fifty day moving average is $44.66 and its two-hundred day moving average is $52.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The firm's revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Monday, June 30th. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was acquired at an average price of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman directly owned 35,266 shares of the company's stock, valued at $1,584,501.38. This represents a 45.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the purchase, the chairman directly owned 27,733 shares in the company, valued at approximately $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 26,869 shares of company stock valued at $1,194,980 in the last 90 days. 71.90% of the stock is currently owned by insiders.

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.

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