LSV Asset Management Lowers Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

LSV Asset Management decreased its holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 58.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,700 shares of the shipping company's stock after selling 92,593 shares during the quarter. LSV Asset Management owned 0.10% of Pangaea Logistics Solutions worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Pangaea Logistics Solutions by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company's stock worth $8,559,000 after buying an additional 105,200 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Pangaea Logistics Solutions by 24.0% in the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company's stock valued at $5,146,000 after purchasing an additional 185,650 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Pangaea Logistics Solutions by 12.4% in the fourth quarter. American Century Companies Inc. now owns 928,044 shares of the shipping company's stock valued at $4,974,000 after purchasing an additional 102,653 shares during the period. Geode Capital Management LLC raised its position in shares of Pangaea Logistics Solutions by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 851,931 shares of the shipping company's stock valued at $4,568,000 after buying an additional 14,104 shares during the period. Finally, State Street Corp lifted its stake in shares of Pangaea Logistics Solutions by 0.8% in the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company's stock valued at $4,173,000 after purchasing an additional 4,564 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company's stock.

Pangaea Logistics Solutions Stock Up 1.2 %

Shares of PANL traded up $0.05 during mid-day trading on Friday, reaching $4.26. The company's stock had a trading volume of 208,049 shares, compared to its average volume of 189,012. The stock has a market cap of $279.58 million, a PE ratio of 9.06 and a beta of 0.68. Pangaea Logistics Solutions, Ltd. has a 12-month low of $3.93 and a 12-month high of $8.32. 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 company's 50 day moving average is $4.89 and its 200 day moving average is $5.51.

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.39%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions's payout ratio is 64.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research 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.