Sumitomo Mitsui DS Asset Management Company Ltd Invests $867,000 in Lineage, Inc. (NASDAQ:LINE)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 11,066 shares of the company’s stock, valued at approximately $867,000.

Other institutional investors also recently bought and sold shares of the company. Perpetual Ltd acquired a new position in shares of Lineage during the third quarter valued at approximately $324,000. Harbour Capital Advisors LLC purchased a new stake in shares of Lineage during the third quarter worth approximately $380,000. SG Americas Securities LLC purchased a new stake in shares of Lineage during the third quarter worth approximately $658,000. Vontobel Holding Ltd. acquired a new position in Lineage in the 3rd quarter valued at $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Lineage in the 3rd quarter valued at $3,582,000. 3.35% of the stock is currently owned by institutional investors and hedge funds.

Lineage Stock Performance

Lineage stock opened at $78.95 on Wednesday. The company has a 50 day moving average of $80.71. The company has a quick ratio of 0.95, a current ratio of 1.10 and a debt-to-equity ratio of 1.93. Lineage, Inc. has a 1 year low of $73.16 and a 1 year high of $89.85. The stock has a market cap of $19.23 billion and a P/E ratio of -5.78.

Lineage Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th. Lineage’s dividend payout ratio (DPR) is -11.12%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LINE. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lineage in a report on Monday, August 19th. They set a “hold” rating and a $90.00 target price for the company. The Goldman Sachs Group dropped their price objective on shares of Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, September 13th. UBS Group initiated coverage on shares of Lineage in a research note on Monday, August 19th. They issued a “neutral” rating and a $88.00 target price on the stock. Mizuho started coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 target price on the stock. Finally, Piper Sandler began coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $102.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Insider Transactions at Lineage

In other news, CFO Robert Crisci bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $78.00 per share, with a total value of $780,000.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $780,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lineage news, CFO Robert Crisci bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $78.00 per share, with a total value of $780,000.00. Following the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $780,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nancy Joy Falotico bought 1,300 shares of Lineage stock in a transaction on Friday, July 26th. The shares were acquired at an average price of $78.00 per share, for a total transaction of $101,400.00. Following the completion of the acquisition, the director now owns 2,452 shares in the company, valued at $191,256. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 12,150 shares of company stock worth $947,700 over the last ninety days. Company 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.