Royce & Associates LP increased its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 960,102 shares of the shipping company's stock after acquiring an additional 185,650 shares during the quarter. Royce & Associates LP owned about 1.48% of Pangaea Logistics Solutions worth $5,146,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC bought a new position in Pangaea Logistics Solutions during the fourth quarter worth $55,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in Pangaea Logistics Solutions during the fourth quarter worth $123,000. Barclays PLC increased 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 acquiring an additional 34,273 shares during the period. Jane Street Group LLC increased its position in Pangaea Logistics Solutions by 7.9% during the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company's stock worth $446,000 after acquiring an additional 4,499 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Pangaea Logistics Solutions by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company's stock worth $494,000 after acquiring an additional 2,916 shares during the period. Institutional investors own 60.23% of the company's stock.
Pangaea Logistics Solutions Stock Performance
PANL traded down $0.13 during trading on Friday, reaching $5.35. 888,694 shares of the company's stock were exchanged, compared to its average volume of 183,707. Pangaea Logistics Solutions, Ltd. has a fifty-two week low of $4.69 and a fifty-two week high of $8.32. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $5.28 and a 200 day moving average price of $5.80. The company has a market capitalization of $351.11 million, a P/E ratio of 11.38 and a beta of 0.84.
Pangaea Logistics Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 7.48%. Pangaea Logistics Solutions's dividend payout ratio is currently 64.52%.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a research report on Monday, March 17th.
View Our Latest Stock Report on Pangaea Logistics Solutions
About Pangaea Logistics Solutions
(
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.
Further Reading
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