Mitsubishi UFJ Asset Management Co. Ltd. Buys New Shares in Lineage, Inc. $LINE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the second quarter, HoldingsChannel.com reports. The firm purchased 47,458 shares of the company’s stock, valued at approximately $2,053,000.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Lineage in the 2nd quarter valued at about $48,000. Alberta Investment Management Corp bought a new stake in Lineage in the second quarter worth approximately $18,117,000. Bank of New York Mellon Corp acquired a new position in Lineage in the second quarter valued at approximately $44,638,000. Focus Partners Advisor Solutions LLC acquired a new position in Lineage in the second quarter valued at approximately $545,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Lineage by 172.7% during the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after buying an additional 1,045 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LINE shares. Mizuho upgraded shares of Lineage from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, July 28th. Citigroup increased their target price on shares of Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a report on Wednesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday. Finally, Robert W. Baird set a $43.00 price objective on shares of Lineage in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Lineage has a consensus rating of “Hold” and an average target price of $44.20.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $41.61 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. Lineage, Inc. has a twelve month low of $31.33 and a twelve month high of $45.75. The stock’s 50 day moving average is $42.58 and its 200-day moving average is $39.71. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of -57.79 and a beta of 0.85.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. Lineage’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. Sell-side analysts forecast that Lineage, Inc. will post 2.49 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were paid a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Lineage’s dividend payout ratio (DPR) is -295.83%.

Insider Activity

In other Lineage news, CFO Robb A. Lemasters acquired 20,000 shares of Lineage stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the acquisition, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 71.60% of the stock is owned by corporate insiders.

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.