Wellington Management Group LLP increased its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,596,743 shares of the shipping company's stock after buying an additional 105,200 shares during the period. Wellington Management Group LLP owned about 2.46% of Pangaea Logistics Solutions worth $8,559,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth about $55,000. Virtu Financial LLC acquired a new position in Pangaea Logistics Solutions during the 4th quarter worth approximately $59,000. Koss Olinger Consulting LLC purchased a new position in Pangaea Logistics Solutions in the fourth quarter worth $105,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at about $123,000. Finally, Barclays PLC grew its position in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company's stock worth $339,000 after buying an additional 34,273 shares during the period. 60.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, StockNews.com raised Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Tuesday, March 25th.
View Our Latest Stock Report on Pangaea Logistics Solutions
Pangaea Logistics Solutions Trading Up 0.8 %
PANL stock traded up $0.04 during trading on Wednesday, reaching $4.23. 37,010 shares of the stock traded hands, compared to its average volume of 189,104. The firm has a market capitalization of $277.28 million, a PE ratio of 8.99 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The business's 50 day moving average price is $4.93 and its 200-day moving average price is $5.54. Pangaea Logistics Solutions, Ltd. has a 52-week low of $3.93 and a 52-week high of $8.32.
Pangaea Logistics Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.47%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions's dividend payout ratio (DPR) is presently 64.52%.
Pangaea Logistics Solutions Profile
(
Free Report)
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.
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