Nuveen Asset Management LLC Cuts Stock Position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Nuveen Asset Management LLC lowered its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the 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 reporting period.

Several other large investors have also added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at $307,000. JPMorgan Chase & Co. boosted its holdings in Pangaea Logistics Solutions by 21.4% in the fourth quarter. JPMorgan Chase & Co. now owns 155,115 shares of the shipping company's stock valued at $831,000 after purchasing an additional 27,316 shares during the last quarter. Empowered Funds LLC grew its position in Pangaea Logistics Solutions by 5.1% during the 4th quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company's stock worth $1,909,000 after purchasing an additional 17,389 shares during the period. Dimensional Fund Advisors LP grew its position in Pangaea Logistics Solutions by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company's stock worth $11,044,000 after purchasing an additional 105,965 shares during the period. Finally, Barclays PLC raised its stake in shares of Pangaea Logistics Solutions by 23.6% during the 4th quarter. Barclays PLC now owns 57,959 shares of the shipping company's stock valued at $311,000 after buying an additional 11,060 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL traded up $0.06 during midday trading on Monday, reaching $4.71. 221,720 shares of the company's stock traded hands, compared to its average volume of 205,642. Pangaea Logistics Solutions, Ltd. has a 1 year low of $3.93 and a 1 year high of $8.00. The company has a market cap of $309.08 million, a P/E ratio of 10.02 and a beta of 0.69. 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 company has a fifty day simple moving average of $4.32 and a two-hundred day simple moving average of $4.95.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.12. The company had revenue of $122.80 million for the quarter, compared to analyst estimates 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 firm posted $0.14 EPS. Equities analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, June 2nd. Pangaea Logistics Solutions's payout ratio is currently 58.82%.

About Pangaea Logistics Solutions

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.