BNP Paribas Financial Markets Purchases 409,312 Shares of Lineage, Inc. $LINE

BNP Paribas Financial Markets boosted its position in Lineage, Inc. (NASDAQ:LINE) by 748.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 463,999 shares of the company’s stock after buying an additional 409,312 shares during the quarter. BNP Paribas Financial Markets’ holdings in Lineage were worth $16,240,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Waterfall Asset Management LLC bought a new position in Lineage in the third quarter valued at approximately $6,275,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Lineage by 58.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock valued at $2,937,000 after buying an additional 27,905 shares in the last quarter. SCP Investment LP boosted its position in Lineage by 113.3% in the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock valued at $18,547,000 after buying an additional 255,000 shares in the last quarter. Barclays PLC boosted its position in Lineage by 8,719.8% in the third quarter. Barclays PLC now owns 1,022,125 shares of the company’s stock valued at $39,495,000 after buying an additional 1,010,536 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Lineage by 839.6% in the third quarter. JPMorgan Chase & Co. now owns 139,702 shares of the company’s stock valued at $5,398,000 after buying an additional 124,833 shares in the last quarter.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 13,300 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the transaction, the chairman directly owned 113,690 shares in the company, valued at approximately $4,263,375. The trade was a 13.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 71.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LINE. Citigroup raised their target price on shares of Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Wells Fargo & Company cut their target price on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Scotiabank raised their target price on shares of Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, March 11th. Morgan Stanley raised their target price on shares of Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Barclays lifted their price target on shares of Lineage from $34.00 to $35.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Lineage currently has an average rating of “Reduce” and an average price target of $43.56.

Lineage Price Performance

LINE stock opened at $42.63 on Friday. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of -68.76 and a beta of 0.88. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. Lineage, Inc. has a 12-month low of $31.33 and a 12-month high of $46.99. The company’s fifty day simple moving average is $37.68 and its 200 day simple moving average is $36.93.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $1.01. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. Lineage’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, analysts expect that Lineage, Inc. will post 2.39 earnings per share for the current year.

Lineage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 21st. Shareholders of record on Tuesday, March 31st were paid a $0.5325 dividend. This represents a $2.13 annualized dividend and a yield of 5.0%. This is an increase from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, March 31st. Lineage’s 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.