Bank of New York Mellon Corp Has $30.61 Million Stock Position in Lineage, Inc. $LINE

Bank of New York Mellon Corp increased its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 139.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 934,333 shares of the company’s stock after acquiring an additional 543,439 shares during the period. Bank of New York Mellon Corp’s holdings in Lineage were worth $30,609,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of Lineage by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock worth $874,000 after purchasing an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares during the period. Vanderbilt University raised its holdings in shares of Lineage by 4.1% in the 1st quarter. Vanderbilt University now owns 10,925 shares of the company’s stock valued at $358,000 after purchasing an additional 431 shares during the period. Allworth Financial LP lifted its position in shares of Lineage by 106.6% in the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after buying an additional 485 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Lineage by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,005 shares of the company’s stock valued at $70,000 after purchasing an additional 502 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LINE shares. Wall Street Zen upgraded shares of Lineage from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 19th. Truist Financial increased their price objective on Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Scotiabank restated a “sector perform” rating and issued a $45.00 price target on shares of Lineage in a research note on Thursday, June 18th. Evercore set a $44.00 price objective on shares of Lineage in a report on Monday, June 8th. Finally, Barclays increased their target price on shares of Lineage from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.94.

Lineage Stock Performance

NASDAQ:LINE opened at $41.42 on Monday. Lineage, Inc. has a twelve month low of $31.33 and a twelve month high of $45.75. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $42.74 and its 200 day simple moving average is $38.92. The firm has a market capitalization of $9.43 billion, a PE ratio of -66.81 and a beta of 0.85.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of ($0.23) by $1.01. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Lineage, Inc. will post 2.44 EPS 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 dividend of $0.5325 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.1%. Lineage’s dividend payout ratio (DPR) is -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.