American Century Companies Inc. Boosts Stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

American Century Companies Inc. increased its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 14.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 725,829 shares of the shipping company's stock after purchasing an additional 89,570 shares during the period. American Century Companies Inc. owned 1.55% of Pangaea Logistics Solutions worth $5,683,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Cable Car Capital LLC purchased a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $7,299,000. Kingsview Wealth Management LLC purchased a new position in Pangaea Logistics Solutions during the first quarter valued at $425,000. Janus Henderson Group PLC purchased a new position in Pangaea Logistics Solutions during the first quarter valued at $256,000. Allspring Global Investments Holdings LLC lifted its position in Pangaea Logistics Solutions by 14,653.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company's stock valued at $242,000 after purchasing an additional 34,436 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of 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 valued at $221,000 after acquiring an additional 31,500 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Price Performance

Shares of Pangaea Logistics Solutions stock traded up $0.26 during trading hours on Wednesday, hitting $7.36. The company's stock had a trading volume of 204,546 shares, compared to its average volume of 221,746. The business has a 50 day moving average price of $6.71 and a two-hundred day moving average price of $7.17. Pangaea Logistics Solutions, Ltd. has a 12-month low of $5.60 and a 12-month high of $9.52. The company has a market cap of $345.18 million, a PE ratio of 9.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The firm had revenue of $131.50 million during the quarter, compared to analysts' expectations of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.76 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.43%. Pangaea Logistics Solutions's dividend payout ratio is currently 52.63%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th.

Pangaea Logistics Solutions Company 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.