Nomura Asset Management Co. Ltd. Buys 6,575 Shares of Lineage, Inc. (NASDAQ:LINE)

Nomura Asset Management Co. Ltd. boosted its stake in Lineage, Inc. (NASDAQ:LINE) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,405 shares of the company’s stock after purchasing an additional 6,575 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Lineage were worth $4,709,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LINE. Norges Bank bought a new stake in shares of Lineage in the 4th quarter valued at about $681,572,000. Vanguard Group Inc. increased 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 purchasing an additional 408,526 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Lineage in the third quarter worth $265,895,000. Baillie Gifford & Co. boosted its position in shares of Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock worth $181,484,000 after purchasing an additional 1,384,481 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock valued at $180,811,000 after buying an additional 831,533 shares during the period.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

LINE has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Citigroup began coverage on Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 target price for the company. Morgan Stanley cut their price target on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Scotiabank increased their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Eight 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 company. According to data from MarketBeat, Lineage has an average rating of “Moderate Buy” and an average target price of $79.67.

Lineage Trading Down 2.9 %

Shares of LINE opened at $56.91 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a 50-day moving average of $58.51 and a 200-day moving average of $64.39. Lineage, Inc. has a one year low of $52.75 and a one year high of $89.85.

Lineage Dividend Announcement

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

Lineage Company 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.