Strs Ohio Trims Stock Position in Lineage, Inc. $LINE

Strs Ohio trimmed its holdings in Lineage, Inc. (NASDAQ:LINE) by 45.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,489 shares of the company’s stock after selling 44,599 shares during the quarter. Strs Ohio’s holdings in Lineage were worth $2,067,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LINE. Norges Bank purchased a new position in shares of Lineage during the 2nd quarter valued at about $606,642,000. Darlington Partners Capital Management LP raised its position in Lineage by 5.2% during the second quarter. Darlington Partners Capital Management LP now owns 3,527,000 shares of the company’s stock valued at $153,495,000 after acquiring an additional 175,000 shares in the last quarter. State Street Corp raised its position in Lineage by 8.9% during the second quarter. State Street Corp now owns 1,780,270 shares of the company’s stock valued at $78,402,000 after acquiring an additional 145,742 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lineage by 4.6% in the second quarter. Geode Capital Management LLC now owns 1,353,478 shares of the company’s stock valued at $58,915,000 after acquiring an additional 59,781 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Lineage by 15.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 622,883 shares of the company’s stock worth $27,108,000 after purchasing an additional 81,159 shares in the last quarter.

Lineage Stock Down 0.6%

Shares of NASDAQ LINE opened at $36.19 on Wednesday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -45.81 and a beta of -0.19. The company’s 50-day simple moving average is $35.51 and its 200-day simple moving average is $38.57. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. Lineage, Inc. has a 52-week low of $32.46 and a 52-week high of $62.30.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.90 EPS. Lineage’s revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Wednesday, December 31st. Lineage’s payout ratio is presently -267.09%.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 14,500 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $33.72 per share, for a total transaction of $488,940.00. Following the acquisition, the chairman owned 89,168 shares of the company’s stock, valued at approximately $3,006,744.96. This trade represents a 19.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste bought 74,000 shares of the stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $33.83 per share, for a total transaction of $2,503,420.00. Following the purchase, the chairman owned 109,266 shares in the company, valued at $3,696,468.78. The trade was a 209.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 129,000 shares of company stock valued at $4,366,940 in the last 90 days. 71.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial set a $40.00 target price on shares of Lineage in a report on Monday, December 22nd. Morgan Stanley dropped their price target on shares of Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Wells Fargo & Company decreased their price objective on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Zacks Research lowered shares of Lineage from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $41.00 price target (down previously from $55.00) on shares of Lineage in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $42.06.

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.