Wellington Management Group LLP raised its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,596,743 shares of the shipping company's stock after buying an additional 105,200 shares during the quarter. Wellington Management Group LLP owned approximately 2.43% of Pangaea Logistics Solutions worth $8,559,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 105,965 shares during the period. Royce & Associates LP grew its stake in shares of Pangaea Logistics Solutions by 24.0% in the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company's stock worth $5,146,000 after purchasing an additional 185,650 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of 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 valued at $4,974,000 after purchasing an additional 102,653 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 valued at $4,568,000 after purchasing an additional 14,104 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of Pangaea Logistics Solutions by 2.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 652,368 shares of the shipping company's stock valued at $3,497,000 after purchasing an additional 17,389 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen lowered shares of Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th.
Read Our Latest Stock Report on PANL
Pangaea Logistics Solutions Price Performance
Shares of NASDAQ:PANL traded up $0.13 during trading on Friday, reaching $4.65. The company had a trading volume of 135,490 shares, compared to its average volume of 204,614. The firm's fifty day moving average is $4.32 and its 200 day moving average is $4.98. 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 firm has a market capitalization of $304.88 million, a PE ratio of 9.87 and a beta of 0.63. Pangaea Logistics Solutions, Ltd. has a twelve month low of $3.93 and a twelve month high of $8.18.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its earnings results on Monday, May 12th. The shipping company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. The firm had revenue of $122.80 million for the quarter, compared to analysts' expectations 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 in the previous year, the company earned $0.14 earnings per share. On average, equities analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.43 EPS for the current year.
Pangaea Logistics Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.05 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.20 annualized dividend and a dividend yield of 4.30%. Pangaea Logistics Solutions's dividend payout ratio (DPR) is 58.82%.
Pangaea Logistics Solutions 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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