Northern Trust Corp Buys 77,755 Shares of Lineage, Inc. (NASDAQ:LINE)

Northern Trust Corp raised its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 376,999 shares of the company's stock after purchasing an additional 77,755 shares during the period. Northern Trust Corp owned about 0.17% of Lineage worth $22,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd bought a new position in shares of Lineage in the 4th quarter worth $29,000. Quarry LP bought a new position in shares of Lineage in the 4th quarter worth $50,000. Stifel Financial Corp raised its position in shares of Lineage by 30.5% in the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock worth $206,000 after acquiring an additional 821 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Lineage in the 4th quarter worth $208,000.

Analyst Upgrades and Downgrades

LINE has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Piper Sandler reduced their price target on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. UBS Group reduced their price target on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Citigroup initiated coverage on Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 target price on the stock. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lineage presently has an average rating of "Moderate Buy" and a consensus target price of $69.74.

Lineage Price Performance

Lineage stock traded up $0.33 during mid-day trading on Friday, hitting $47.63. The company's stock had a trading volume of 1,098,253 shares, compared to its average volume of 1,259,933. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $10.89 billion and a P/E ratio of -14.79. Lineage, Inc. has a twelve month low of $42.05 and a twelve month high of $89.85. The stock's fifty day moving average price is $53.69 and its two-hundred day moving average price is $58.07.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The business's revenue was down 2.7% on a year-over-year basis. Research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.43%. Lineage's dividend payout ratio is -65.53%.

Insider Transactions at Lineage

In other Lineage news, insider Sudarsan V. Thattai purchased 4,420 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider now directly owns 4,420 shares of the company's stock, valued at $199,916.60. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 51,186 shares of company stock valued at $2,666,159. Corporate insiders own 1.40% of the company's stock.

About Lineage

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.