Artisan Partners Limited Partnership Trims Stock Holdings in Lineage, Inc. $LINE

Artisan Partners Limited Partnership cut its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 44.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 347,325 shares of the company’s stock after selling 275,558 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Lineage were worth $13,421,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares in the last quarter. Strs Ohio boosted its stake in Lineage by 0.5% during the 2nd quarter. Strs Ohio now owns 98,088 shares of the company’s stock valued at $4,269,000 after acquiring an additional 488 shares during the last quarter. Allworth Financial LP grew its holdings in Lineage by 426.4% during the 2nd quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after acquiring an additional 614 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Lineage by 16.3% during the 2nd quarter. California State Teachers Retirement System now owns 4,455 shares of the company’s stock worth $194,000 after acquiring an additional 626 shares in the last quarter.

Lineage Price Performance

Shares of LINE opened at $40.52 on Friday. Lineage, Inc. has a 12 month low of $32.46 and a 12 month high of $62.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The stock has a fifty day moving average price of $36.68 and a 200 day moving average price of $37.83. The company has a market cap of $9.25 billion, a P/E ratio of -94.23 and a beta of -0.19.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.05%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Lineage’s payout ratio is presently -490.70%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler increased their target price on Lineage from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley dropped their price target on Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Truist Financial set a $40.00 price objective on shares of Lineage in a report on Monday, December 22nd. The Goldman Sachs Group lowered their target price on shares of Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Finally, Royal Bank Of Canada reduced their price target on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lineage presently has a consensus rating of “Reduce” and an average price target of $42.18.

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.