Lineage, Inc. (NASDAQ:LINE) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Lineage, Inc. (NASDAQ:LINE) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 39,819 shares of the company’s stock after buying an additional 1,559 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lineage were worth $2,349,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LINE. Vanguard Group Inc. boosted its stake in Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after acquiring an additional 408,526 shares during the period. Wellington Management Group LLP acquired a new position in Lineage during the 3rd quarter valued at approximately $265,895,000. Baillie Gifford & Co. grew its stake in Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock worth $181,484,000 after buying an additional 1,384,481 shares during the last quarter. Victory Capital Management Inc. increased its position in Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock worth $180,811,000 after buying an additional 831,533 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Lineage in the third quarter valued at $173,115,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on LINE shares. Morgan Stanley dropped their price objective on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday. Robert W. Baird cut their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Piper Sandler reduced their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $75.00 in a report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.67.

Lineage Price Performance

LINE opened at $56.91 on Wednesday. The business has a fifty day simple moving average of $58.51 and a 200-day simple moving average of $64.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.71%.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Lineage Profile

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.