Lineage, Inc. Announces Quarterly Dividend of $0.53 (NASDAQ:LINE)

Lineage, Inc. (NASDAQ:LINE) declared a quarterly dividend on Tuesday, September 15th. Investors of record on Wednesday, September 30th will be given a dividend of 0.5325 per share on Wednesday, October 21st. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, September 30th.

Lineage Stock Down 0.6%

Lineage stock opened at $38.49 on Wednesday. Lineage has a 1-year low of $31.33 and a 1-year high of $45.75. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of -53.46 and a beta of 0.82. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $41.26 and a 200 day simple moving average of $39.85.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, analysts predict that Lineage will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robb LeMasters purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $41.33 per share, with a total value of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This trade represents a 67.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Kevin Marchetti acquired 25,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the transaction, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This represents a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is owned by insiders.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new stake in Lineage in the second quarter valued at approximately $232,000. Integrated Wealth Concepts LLC lifted its position in Lineage by 96.5% during the second quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock valued at $650,000 after purchasing an additional 7,386 shares during the last quarter. NewEdge Advisors LLC grew its stake in Lineage by 37,773.3% in the 2nd quarter. NewEdge Advisors LLC now owns 5,681 shares of the company’s stock worth $246,000 after buying an additional 5,666 shares in the last quarter. IFP Advisors Inc grew its stake in Lineage by 180.5% in the 2nd quarter. IFP Advisors Inc now owns 2,794 shares of the company’s stock worth $121,000 after buying an additional 1,798 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Lineage in the 2nd quarter worth approximately $1,813,000.

Lineage Company Profile

Lineage, Inc (NASDAQ: LINE) is a global real estate investment trust focused on temperature-controlled industrial properties and the food supply chain. The company owns, operates and develops a network of cold-storage facilities designed to preserve perishable products, including frozen and refrigerated food, from production through distribution and retail.

Lineage provides temperature-controlled warehousing, inventory management, transportation coordination and related supply-chain services.