113,146 Shares in Pangaea Logistics Solutions Ltd. $PANL Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in Pangaea Logistics Solutions, acquiring 113,146 shares valued at approximately $539,000, representing around 0.17% ownership of the company.
• Pangaea Logistics Solutions recently announced a quarterly dividend of $0.05 per share, which translates to an annual yield of 3.8%, with a payout ratio of 90.91%.
• The company reported earnings of ($0.02) per share for the most recent quarter, surpassing estimates and generating a revenue of $156.69 million, exceeding analyst expectations of $129.24 million.

Nuveen LLC bought a new position in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 113,146 shares of the shipping company's stock, valued at approximately $539,000. Nuveen LLC owned about 0.17% of Pangaea Logistics Solutions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PANL. Wells Fargo & Company MN increased its holdings in shares of Pangaea Logistics Solutions by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock valued at $99,000 after purchasing an additional 4,007 shares during the last quarter. Barclays PLC increased its holdings in shares of Pangaea Logistics Solutions by 23.6% in the fourth quarter. Barclays PLC now owns 57,959 shares of the shipping company's stock valued at $311,000 after purchasing an additional 11,060 shares during the last quarter. Mariner LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $134,000. Dimensional Fund Advisors LP increased its holdings in shares of Pangaea Logistics Solutions by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company's stock valued at $11,044,000 after purchasing an additional 105,965 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Pangaea Logistics Solutions by 99.0% in the fourth quarter. MetLife Investment Management LLC now owns 19,647 shares of the shipping company's stock valued at $105,000 after purchasing an additional 9,773 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. B. Riley reduced their price target on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $9.00.

Pangaea Logistics Solutions Trading Up 1.9%

NASDAQ PANL traded up $0.10 on Friday, reaching $5.35. The stock had a trading volume of 129,763 shares, compared to its average volume of 197,906. The firm has a market capitalization of $349.03 million, a price-to-earnings ratio of 24.32 and a beta of 0.71. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions Ltd. has a 12-month low of $3.93 and a 12-month high of $7.49. The stock has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $4.79.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The shipping company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. The business had revenue of $156.69 million during the quarter, compared to the consensus estimate of $129.24 million. As a group, sell-side analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a yield of 3.7%. Pangaea Logistics Solutions's dividend payout ratio (DPR) is 90.91%.

Pangaea Logistics Solutions 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.