Wellington Management Group LLP Purchases 105,200 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Wellington Management Group LLP boosted its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,596,743 shares of the shipping company's stock after acquiring an additional 105,200 shares during the period. Wellington Management Group LLP owned approximately 2.43% of Pangaea Logistics Solutions worth $8,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANL. Tower Research Capital LLC TRC lifted its holdings in Pangaea Logistics Solutions by 469.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company's stock worth $48,000 after acquiring an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $54,000. Commonwealth Equity Services LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $55,000. Virtu Financial LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $59,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $59,000. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Stock Up 2.9%

PANL traded up $0.13 on Friday, hitting $4.65. 244,889 shares of the company were exchanged, compared to its average volume of 205,577. Pangaea Logistics Solutions, Ltd. has a 12 month low of $3.93 and a 12 month high of $8.00. The company has a market cap of $305.14 million, a PE ratio of 9.89 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 stock's fifty day moving average is $4.32 and its 200-day moving average is $4.96.

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

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Monday, June 2nd. Pangaea Logistics Solutions's payout ratio is presently 58.82%.

Analyst Ratings Changes

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

Pangaea Logistics Solutions Company 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.