JPMorgan Chase & Co. Raises Holdings in Lineage, Inc. $LINE

JPMorgan Chase & Co. grew its holdings in Lineage, Inc. (NASDAQ:LINE) by 839.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,702 shares of the company’s stock after buying an additional 124,833 shares during the quarter. JPMorgan Chase & Co.’s holdings in Lineage were worth $5,398,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new position in Lineage in the third quarter worth $581,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Lineage during the 3rd quarter worth $70,000. GM Advisory Group LLC grew its stake in shares of Lineage by 100.0% during the 3rd quarter. GM Advisory Group LLC now owns 20,000 shares of the company’s stock worth $773,000 after purchasing an additional 10,000 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Lineage during the 3rd quarter worth $4,641,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Lineage by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after purchasing an additional 350 shares in the last quarter.

Lineage Price Performance

Lineage stock opened at $32.78 on Thursday. The firm has a market capitalization of $7.44 billion, a PE ratio of -76.23 and a beta of 0.11. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $58.86. The firm’s 50-day simple moving average is $37.22 and its 200 day simple moving average is $37.17. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. On average, equities research analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.5325 per share. This is a positive change from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.5%. Lineage’s dividend payout ratio is -495.35%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reduced their price objective on shares of Lineage from $41.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Compass Point assumed coverage on shares of Lineage in a report on Wednesday, March 18th. They issued a “buy” rating and a $47.00 target price for the company. Royal Bank Of Canada lifted their price target on shares of Lineage from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Scotiabank boosted their price target on Lineage from $39.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, March 11th. Finally, Morgan Stanley lowered their price target on Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.28.

Insider Activity

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $37.50 per share, for a total transaction of $498,750.00. Following the transaction, the chairman directly owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. This trade represents a 13.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 71.90% of the stock is owned by corporate insiders.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.