Artisan Partners Limited Partnership Trims Stock Position in Lineage, Inc. $LINE

Artisan Partners Limited Partnership trimmed its holdings in Lineage, Inc. (NASDAQ:LINE) by 44.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,325 shares of the company’s stock after selling 275,558 shares during the period. Artisan Partners Limited Partnership owned 0.15% of Lineage worth $13,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Lineage during the 2nd quarter worth about $606,642,000. HighTower Advisors LLC purchased a new stake in Lineage in the third quarter valued at approximately $43,804,000. Evergreen Capital Management LLC acquired a new position in Lineage during the second quarter worth approximately $13,501,000. GCM Grosvenor Holdings LLC purchased a new position in Lineage during the second quarter worth approximately $13,146,000. Finally, SCP Investment LP boosted its holdings in shares of Lineage by 113.3% in the 3rd quarter. SCP Investment LP now owns 480,000 shares of the company’s stock valued at $18,547,000 after purchasing an additional 255,000 shares during the last quarter.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $40.52 on Friday. The company has a market cap of $9.25 billion, a P/E ratio of -94.23 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. Lineage, Inc. has a one year low of $32.46 and a one year high of $62.30. The business’s 50-day simple moving average is $36.68 and its 200 day simple moving average is $37.83.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative return on equity of 1.05% and a negative net margin of 1.87%.The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Lineage’s dividend payout ratio (DPR) is presently -490.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on LINE. Mizuho dropped their price objective on Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a research note on Monday, December 29th. Wall Street Zen lowered Lineage from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research cut Lineage from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $42.18.

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.