Lineage, Inc. $LINE Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Lineage, Inc. (NASDAQ:LINE) by 839.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 139,702 shares of the company’s stock after purchasing an additional 124,833 shares during the period. JPMorgan Chase & Co. owned 0.06% of Lineage worth $5,398,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LINE. Jones Financial Companies Lllp grew its stake in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Lineage by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after buying an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the period. Amundi boosted its holdings in shares of Lineage by 1.5% in the third quarter. Amundi now owns 35,805 shares of the company’s stock valued at $1,481,000 after acquiring an additional 512 shares during the period. Finally, Mariner LLC grew its position in shares of Lineage by 4.6% during the third quarter. Mariner LLC now owns 12,001 shares of the company’s stock worth $464,000 after acquiring an additional 527 shares during the last quarter.

Lineage Price Performance

Shares of NASDAQ LINE opened at $32.78 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. The stock has a fifty day moving average price of $37.22 and a 200 day moving average price of $37.17. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $58.86. The company has a market cap of $7.44 billion, a PE ratio of -76.23 and a beta of 0.11.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. Sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.5%. This is a positive change from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 31st. Lineage’s dividend payout ratio (DPR) is presently -495.35%.

Insider Activity

In other news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the acquisition, the chairman directly owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. This trade represents a 13.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 71.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. Truist Financial raised their price objective on shares of Lineage from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Wells Fargo & Company lifted their price objective on shares of Lineage from $32.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Scotiabank upped their target price on shares of Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, March 11th. Finally, Barclays reiterated a “positive” rating on shares of Lineage in a research note on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Lineage has a consensus rating of “Hold” and an average target price of $43.28.

Lineage Company 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.