Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 928,044 shares of the shipping company's stock after purchasing an additional 102,653 shares during the period. American Century Companies Inc. owned about 1.43% of Pangaea Logistics Solutions worth $4,974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $55,000. Virtu Financial LLC purchased a new position in Pangaea Logistics Solutions during the fourth quarter valued at $59,000. Koss Olinger Consulting LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at about $105,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth about $123,000. Finally, Barclays PLC raised its position in shares of Pangaea Logistics Solutions by 271.4% during the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company's stock worth $339,000 after purchasing an additional 34,273 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Price Performance

PANL stock traded down $0.18 during midday trading on Thursday, reaching $4.22. The stock had a trading volume of 315,425 shares, compared to its average volume of 188,685. Pangaea Logistics Solutions, Ltd. has a 52-week low of $3.93 and a 52-week high of $8.32. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The company's fifty day simple moving average is $4.99 and its 200 day simple moving average is $5.60. The company has a market cap of $276.95 million, a price-to-earnings ratio of 8.98 and a beta of 0.68.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions's dividend payout ratio is currently 64.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, March 25th.

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.