Nomura Asset Management Co. Ltd. grew its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 80,405 shares of the company's stock after buying an additional 6,575 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Lineage were worth $4,709,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in LINE. GAMMA Investing LLC raised its stake in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after buying an additional 448 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Lineage in the 3rd quarter worth approximately $211,000. MetLife Investment Management LLC purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $226,000. Quantbot Technologies LP purchased a new stake in Lineage in the third quarter worth $323,000. Finally, Centiva Capital LP purchased a new stake in Lineage in the third quarter worth $355,000.
Lineage Stock Down 3.7 %
Shares of LINE traded down $2.06 on Friday, reaching $54.35. The company's stock had a trading volume of 2,029,717 shares, compared to its average volume of 1,282,843. The stock's 50 day simple moving average is $58.30 and its two-hundred day simple moving average is $63.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85.
Lineage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.88%.
Wall Street Analyst Weigh In
Several research firms recently commented on LINE. JPMorgan Chase & Co. lowered shares of Lineage from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Morgan Stanley reduced their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Scotiabank upped their target price on shares of Lineage from $73.00 to $74.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 10th. Mizuho reduced their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup initiated coverage on shares of Lineage in a report on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.67.
Check Out Our Latest Report on LINE
Insider Buying and Selling
In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.
Lineage Profile
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Free Report)
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.
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