Lineage, Inc. $LINE Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Lineage, Inc. by 75.7%, owning approximately 1.91% of the company, valued at $255.9 million.
• Lineage, Inc. reported a $1.35 billion revenue for the last quarter, beating analyst estimates, and achieved an EPS of $0.81.
• The company announced a $0.5275 quarterly dividend, representing a 5.2% dividend yield, despite a negative payout ratio of -75.63%.

Price T Rowe Associates Inc. MD grew its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 75.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,364,697 shares of the company's stock after buying an additional 1,880,587 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.91% of Lineage worth $255,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LINE. Mariner LLC purchased a new stake in shares of Lineage in the fourth quarter valued at approximately $548,000. Stifel Financial Corp increased its position in shares of Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after buying an additional 821 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Lineage by 17.4% in the fourth quarter. Hsbc Holdings PLC now owns 43,941 shares of the company's stock valued at $2,574,000 after buying an additional 6,500 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Lineage by 16.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock valued at $10,250,000 after buying an additional 25,000 shares in the last quarter. Finally, Ghisallo Capital Management LLC increased its position in shares of Lineage by 20.0% during the fourth quarter. Ghisallo Capital Management LLC now owns 1,200,100 shares of the company's stock worth $70,290,000 after purchasing an additional 200,000 shares in the last quarter.

Insider Buying and Selling at Lineage

In other news, insider Sudarsan V. Thattai bought 3,563 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the purchase, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of the firm's 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 purchase, 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 disclosure for this purchase can be found here. In the last ninety days, insiders bought 39,448 shares of company stock worth $1,645,752. Corporate insiders own 71.90% of the company's stock.

Lineage Trading Up 0.7%

Shares of Lineage stock traded up $0.27 during trading hours on Friday, hitting $41.82. The company's stock had a trading volume of 279,706 shares, compared to its average volume of 1,025,715. Lineage, Inc. has a twelve month low of $38.83 and a twelve month high of $84.89. The firm has a fifty day moving average of $42.52 and a 200-day moving average of $48.94. The stock has a market cap of $9.57 billion and a price-to-earnings ratio of -14.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96.

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

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio is -75.63%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup dropped their price target on Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. KeyCorp restated a "sector weight" rating and issued a $84.00 target price on shares of Lineage in a report on Tuesday, July 1st. Wells Fargo & Company dropped their target price on Lineage from $48.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday. Royal Bank Of Canada dropped their target price on Lineage from $64.00 to $51.00 and set an "outperform" rating for the company in a report on Monday, August 18th. Finally, BNP Paribas set a $42.00 target price on Lineage in a report on Thursday, June 12th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Lineage has a consensus rating of "Hold" and a consensus price target of $53.26.

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.