Wellington Management Group LLP reduced its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,491,543 shares of the shipping company's stock after selling 108,800 shares during the period. Wellington Management Group LLP owned approximately 3.18% of Pangaea Logistics Solutions worth $10,784,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $58,000. Mackenzie Financial Corp bought a new position in Pangaea Logistics Solutions in the second quarter valued at about $110,000. Wealth Enhancement Advisory Services LLC acquired a new position in Pangaea Logistics Solutions during the third quarter worth about $113,000. Algert Global LLC lifted its holdings in shares of Pangaea Logistics Solutions by 20.1% in the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company's stock worth $143,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Pangaea Logistics Solutions by 6.7% in the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company's stock valued at $188,000 after purchasing an additional 1,514 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.
Read Our Latest Research Report on PANL
Pangaea Logistics Solutions Trading Down 2.1 %
Shares of NASDAQ:PANL traded down $0.11 during midday trading on Monday, hitting $5.24. 217,488 shares of the stock were exchanged, compared to its average volume of 211,658. The business's 50-day moving average price is $6.15 and its 200 day moving average price is $6.78. Pangaea Logistics Solutions, Ltd. has a 12 month low of $5.22 and a 12 month high of $9.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The stock has a market capitalization of $245.77 million, a price-to-earnings ratio of 11.15 and a beta of 0.83.
Pangaea Logistics Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.63%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions's dividend payout ratio is currently 85.11%.
Pangaea Logistics Solutions Company 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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