Bank of New York Mellon Corp Increases Stake in Lineage, Inc. (NASDAQ:LINE)

Bank of New York Mellon Corp boosted its stake in Lineage, Inc. (NASDAQ:LINE) by 149.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,784 shares of the company’s stock after purchasing an additional 159,927 shares during the period. Bank of New York Mellon Corp owned about 0.12% of Lineage worth $15,626,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp bought a new stake in shares of Lineage in the 3rd quarter worth approximately $833,000. TOMS Capital Investment Management LP bought a new stake in shares of Lineage during the third quarter valued at approximately $15,676,000. JPMorgan Chase & Co. bought a new stake in shares of Lineage during the third quarter valued at approximately $12,542,000. Nicola Wealth Management LTD. bought a new stake in shares of Lineage during the third quarter valued at approximately $658,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Lineage during the third quarter valued at approximately $173,115,000.

Analyst Ratings Changes

Several research firms have commented on LINE. Mizuho dropped their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BNP Paribas started coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Piper Sandler decreased their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird decreased their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Lineage Stock Performance

Shares of NASDAQ LINE opened at $58.19 on Wednesday. Lineage, Inc. has a 1 year low of $52.75 and a 1 year high of $89.85. The firm’s 50 day moving average price is $57.99 and its 200 day moving average price is $66.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

About Lineage

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.