The Manufacturers Life Insurance Company Purchases New Shares in Lineage, Inc. $LINE

The Manufacturers Life Insurance Company purchased a new position in Lineage, Inc. (NASDAQ:LINE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,680 shares of the company’s stock, valued at approximately $1,197,000.

A number of other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Paralel Advisors LLC purchased a new stake in shares of Lineage during the second quarter worth about $26,000. Rothschild Investment LLC raised its position in shares of Lineage by 575.2% during the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Allworth Financial LP raised its position in shares of Lineage by 106.6% during the 4th quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after purchasing an additional 485 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Lineage in the 2nd quarter valued at about $48,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LINE shares. Morgan Stanley lifted their price objective on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Mizuho upgraded Lineage from a “neutral” rating to an “outperform” rating and raised their target price for the company from $40.00 to $47.00 in a research report on Tuesday, July 28th. Piper Sandler lowered their price target on Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Scotiabank reiterated a “sector perform” rating and set a $45.00 price target on shares of Lineage in a research report on Thursday, June 18th. Finally, Barclays increased their price objective on Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Lineage currently has a consensus rating of “Hold” and a consensus price target of $44.20.

Insider Transactions at Lineage

In other news, CFO Robb LeMasters acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the transaction, the chief financial officer owned 49,500 shares in the company, valued at approximately $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin Marchetti bought 25,000 shares of Lineage stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This trade represents a 21.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 71.60% of the company’s stock.

Lineage Price Performance

LINE stock opened at $38.17 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The business has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $39.84. The firm has a market capitalization of $8.69 billion, a PE ratio of -53.01 and a beta of 0.82. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $45.75.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Equities research analysts anticipate that Lineage, Inc. will post 2.51 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were issued a $0.5325 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.6%. Lineage’s dividend payout ratio is currently -295.83%.

Lineage Profile

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.