Empowered Funds LLC Makes New $5.58 Million Investment in Lineage, Inc. $LINE

Empowered Funds LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 129,073 shares of the company’s stock, valued at approximately $5,582,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Capital Financial Advisors LLC bought a new stake in shares of Lineage during the second quarter worth $755,000. Caitlin John LLC bought a new position in shares of Lineage during the 2nd quarter worth approximately $83,000. Jefferies Financial Group Inc. acquired a new stake in shares of Lineage in the second quarter valued at approximately $436,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Lineage in the second quarter valued at approximately $4,340,000. Finally, Corient Private Wealth LP bought a new stake in shares of Lineage in the second quarter worth $3,763,000.

Lineage Price Performance

NASDAQ:LINE opened at $39.32 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $39.85. The stock has a market capitalization of $8.95 billion, a PE ratio of -54.61 and a beta of 0.84. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $45.75.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $0.81 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, research analysts expect that Lineage, Inc. will post 2.51 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.5325 per share. This represents a $2.13 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, June 30th. Lineage’s payout ratio is currently -295.83%.

Analysts Set New Price Targets

Several brokerages recently commented on LINE. Royal Bank Of Canada increased their target price on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Piper Sandler decreased their price objective on Lineage from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup upped their target price on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Morgan Stanley upped their price objective on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Finally, Truist Financial raised their target price on shares of Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.07.

Insider Buying and Selling at Lineage

In other news, CFO Robb A. Lemasters bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price 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 in the company, valued at approximately $2,045,835. This represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 71.60% of the company’s stock.

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.