Janney Montgomery Scott LLC Takes Position in Lineage, Inc. $LINE

Janney Montgomery Scott LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,177 shares of the company’s stock, valued at approximately $497,000.

A number of other hedge funds have also bought and sold shares of LINE. Norges Bank acquired a new stake in Lineage in the 4th quarter worth about $482,255,000. Morgan Stanley grew its position in shares of Lineage by 378.6% during the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Darlington Partners Capital Management LP increased its holdings in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after purchasing an additional 1,605,810 shares during the period. AQR Capital Management LLC increased its holdings in shares of Lineage by 636.1% during the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock worth $46,273,000 after purchasing an additional 1,149,686 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Lineage by 677.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 975,950 shares of the company’s stock worth $34,158,000 after purchasing an additional 850,380 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Lineage from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 19th. Piper Sandler dropped their price objective on Lineage from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Barclays upped their target price on Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Evercore set a $44.00 target price on Lineage in a report on Monday, June 8th. Finally, Truist Financial raised their price target on Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lineage has an average rating of “Hold” and a consensus price target of $41.62.

Lineage Stock Performance

Shares of Lineage stock opened at $43.99 on Thursday. The company’s 50 day moving average price is $42.23 and its two-hundred day moving average price is $38.53. The firm has a market capitalization of $10.02 billion, a P/E ratio of -70.95 and a beta of 0.85. Lineage, Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $0.86 EPS. Lineage’s revenue was up .4% compared to the same quarter last year. On average, equities analysts forecast that Lineage, Inc. will post 2.44 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th will be issued a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage’s dividend payout ratio is presently -343.55%.

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.