Janney Montgomery Scott LLC Makes New $761,000 Investment in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Janney Montgomery Scott LLC purchased a new position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 105,240 shares of the shipping company's stock, valued at approximately $761,000. Janney Montgomery Scott LLC owned approximately 0.22% of Pangaea Logistics Solutions at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Pangaea Logistics Solutions by 55.7% in the first quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company's stock valued at $417,000 after acquiring an additional 21,417 shares during the last quarter. SG Americas Securities LLC raised its position in Pangaea Logistics Solutions by 3.0% in the 1st quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company's stock worth $404,000 after purchasing an additional 1,672 shares during the period. Russell Investments Group Ltd. lifted its stake in Pangaea Logistics Solutions by 14,583.3% in the first quarter. Russell Investments Group Ltd. now owns 31,716 shares of the shipping company's stock worth $221,000 after purchasing an additional 31,500 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Pangaea Logistics Solutions during the first quarter valued at about $425,000. Finally, Vanguard Group Inc. grew its stake in shares of Pangaea Logistics Solutions by 2.0% during the first quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company's stock valued at $4,892,000 after buying an additional 13,542 shares during the last quarter. Institutional investors own 60.23% of the company's stock.

Pangaea Logistics Solutions Trading Down 4.0 %

NASDAQ:PANL traded down $0.25 during midday trading on Monday, reaching $6.05. 224,218 shares of the stock traded hands, compared to its average volume of 211,283. The stock has a market capitalization of $283.76 million, a P/E ratio of 13.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 2.05. The company has a fifty day moving average of $6.58 and a 200 day moving average of $7.08. Pangaea Logistics Solutions, Ltd. has a 12 month low of $6.05 and a 12 month high of $9.52.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 6.61%. Pangaea Logistics Solutions's payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research note on Friday.

Pangaea Logistics Solutions Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.