Key Points
- Chairman Kevin Patrick Marchetti bought 13,300 shares of Lineage on March 12 at $37.50 (≈$498,750), raising his stake to 113,690 shares (a 13.25% increase); he also acquired 11,222 shares on March 9 at $39.05.
- Lineage raised its quarterly dividend to $0.5325 (annualized $2.13) for a yield of about 5.7%, with an ex-dividend date of March 31 and payment on April 21.
- Recent results missed expectations: Lineage reported $0.03 EPS vs. $0.73 expected and $1.34 billion in revenue vs. $1.38 billion expected, and the consensus analyst rating is "Hold" with an average target of $43.18.
Lineage, Inc. (NASDAQ:LINE - Get Free Report) Chairman Kevin Patrick Marchetti purchased 13,300 shares of Lineage stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $37.50 per share, with a total value of $498,750.00. Following the transaction, the chairman owned 113,690 shares of the company's stock, valued at approximately $4,263,375. This represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Kevin Patrick Marchetti also recently made the following trade(s):
- On Monday, March 9th, Kevin Patrick Marchetti acquired 11,222 shares of Lineage stock. The stock was bought at an average cost of $39.05 per share, for a total transaction of $438,219.10.
Lineage Stock Up 2.3%
LINE stock opened at $37.25 on Tuesday. The business's 50-day moving average price is $37.58 and its 200-day moving average price is $37.70. The stock has a market cap of $8.46 billion, a P/E ratio of -86.63 and a beta of -0.43. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79. Lineage, Inc. has a twelve month low of $32.46 and a twelve month high of $61.01.
Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The company's revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.
Lineage Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be paid a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Lineage's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, March 31st. Lineage's dividend payout ratio is currently -490.70%.
Wall Street Analysts Forecast Growth
LINE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Lineage from $32.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, March 2nd. Robert W. Baird reiterated a "neutral" rating and issued a $39.00 price target (down from $45.00) on shares of Lineage in a research note on Thursday, December 18th. Royal Bank Of Canada raised their price target on Lineage from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Monday, March 2nd. The Goldman Sachs Group lowered their price objective on Lineage from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, November 25th. Finally, UBS Group dropped their price objective on Lineage from $41.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Lineage has a consensus rating of "Hold" and an average target price of $43.18.
Check Out Our Latest Research Report on LINE
Hedge Funds Weigh In On Lineage
Several institutional investors have recently bought and sold shares of LINE. Norges Bank purchased a new position in Lineage during the second quarter valued at $606,642,000. Morgan Stanley lifted its stake in Lineage by 378.6% in the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company's stock worth $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Darlington Partners Capital Management LP boosted its holdings in shares of Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Lineage by 636.1% during the 4th quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company's stock valued at $46,273,000 after purchasing an additional 1,149,686 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Lineage during the third quarter valued at about $43,804,000.
Lineage Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
