Resona Asset Management Co. Ltd. Has $1.05 Million Stock Position in Lineage, Inc. $LINE

Resona Asset Management Co. Ltd. lowered its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,904 shares of the company’s stock after selling 1,868 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lineage were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of LINE. Signaturefd LLC raised its holdings in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after buying an additional 369 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 shares in the last quarter. Strs Ohio increased its holdings in shares of Lineage by 0.5% during the 2nd quarter. Strs Ohio now owns 98,088 shares of the company’s stock valued at $4,269,000 after acquiring an additional 488 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Lineage in the 1st quarter valued at approximately $29,000. Finally, First Pacific Financial raised its stake in shares of Lineage by 16.8% in the 2nd quarter. First Pacific Financial now owns 3,576 shares of the company’s stock valued at $156,000 after acquiring an additional 515 shares in the last quarter.

Insider Buying and Selling at Lineage

In other news, CFO Robert Crisci bought 10,000 shares of the stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $34.56 per share, with a total value of $345,600.00. Following the acquisition, the chief financial officer owned 107,859 shares in the company, valued at $3,727,607.04. This trade represents a 10.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kevin Patrick Marchetti bought 12,345 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, with a total value of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares in the company, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 71.90% of the stock is currently owned by insiders.

Lineage Stock Down 2.5%

NASDAQ LINE opened at $33.77 on Tuesday. Lineage, Inc. has a 1-year low of $33.30 and a 1-year high of $68.81. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of -42.75 and a beta of -0.19. The stock’s 50 day moving average is $39.84 and its two-hundred day moving average is $42.54. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

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

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.2%. Lineage’s dividend payout ratio (DPR) is presently -267.09%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LINE. Wells Fargo & Company decreased their target price on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Evercore ISI lowered their price objective on shares of Lineage from $44.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday. Royal Bank Of Canada cut their target price on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, August 18th. Bank of America restated an “underperform” rating and issued a $42.00 price target (down from $47.00) on shares of Lineage in a research report on Monday, August 11th. Finally, Zacks Research lowered shares of Lineage from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $47.00.

Lineage Company 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.