BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in Lineage, Inc. $LINE

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Lineage, Inc. (NASDAQ:LINE) by 25.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 156,425 shares of the company’s stock after purchasing an additional 32,217 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Lineage were worth $6,808,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after purchasing an additional 1,880,587 shares during the period. Nuveen LLC bought a new position in Lineage in the 1st quarter worth about $37,468,000. Villere ST Denis J & Co. LLC boosted its stake in Lineage by 24.4% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 588,726 shares of the company’s stock worth $25,621,000 after purchasing an additional 115,423 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Lineage by 8.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after purchasing an additional 43,242 shares during the period. Finally, Northern Trust Corp boosted its stake in Lineage by 2.2% in the 1st quarter. Northern Trust Corp now owns 385,441 shares of the company’s stock worth $22,598,000 after purchasing an additional 8,442 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on LINE. Robert W. Baird cut their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, August 13th. Evercore ISI cut their target price on Lineage from $45.00 to $44.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Bank of America restated an “underperform” rating and issued a $42.00 target price (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. The Goldman Sachs Group cut their target price on Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company dropped their price target on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.33.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti bought 12,345 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares of the company’s stock, valued at $3,019,573.92. This represents a 19.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider directly owned 7,983 shares in the company, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 39,448 shares of company stock valued at $1,645,752 in the last 90 days. 71.90% of the stock is currently owned by corporate insiders.

Lineage Stock Performance

Shares of LINE opened at $37.73 on Wednesday. The company has a market cap of $8.63 billion, a PE ratio of -13.52 and a beta of -0.20. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $40.34 and a 200-day moving average price of $43.12. Lineage, Inc. has a 12-month low of $36.66 and a 12-month high of $74.61.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were given a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.6%. Lineage’s payout ratio is presently -75.63%.

Lineage Company Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.