Nuveen Asset Management LLC reduced its holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,146 shares of the shipping company's stock after selling 75,531 shares during the quarter. Nuveen Asset Management LLC owned about 0.17% of Pangaea Logistics Solutions worth $606,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Pangaea Logistics Solutions by 5.4% in the 4th 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 in the last quarter. Wellington Management Group LLP increased its position in 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 position in Pangaea Logistics Solutions by 24.0% during the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company's stock worth $5,146,000 after buying an additional 185,650 shares in the last quarter. American Century Companies Inc. increased its position in Pangaea Logistics Solutions by 12.4% during the fourth quarter. American Century Companies Inc. now owns 928,044 shares of the shipping company's stock worth $4,974,000 after buying an additional 102,653 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Pangaea Logistics Solutions by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 851,931 shares of the shipping company's stock worth $4,568,000 after buying an additional 14,104 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th.
Check Out Our Latest Stock Analysis on Pangaea Logistics Solutions
Pangaea Logistics Solutions Stock Performance
Pangaea Logistics Solutions stock opened at $4.52 on Friday. 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 fifty day moving average of $4.32 and a two-hundred day moving average of $4.98. The company has a market capitalization of $296.61 million, a price-to-earnings ratio of 9.62 and a beta of 0.63. Pangaea Logistics Solutions, Ltd. has a fifty-two week low of $3.93 and a fifty-two week high of $8.18.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The shipping company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.12. The company had revenue of $122.80 million during the quarter, compared to the consensus estimate of $130.37 million. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. During the same quarter last year, the business posted $0.14 earnings per share. On average, analysts anticipate that Pangaea Logistics Solutions, Ltd. will post 0.43 EPS for the current fiscal year.
Pangaea Logistics Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Monday, June 2nd. Pangaea Logistics Solutions's dividend payout ratio is currently 58.82%.
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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