Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Declares $0.05 Quarterly Dividend

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) declared a quarterly dividend on Thursday, May 8th, NASDAQ Dividends reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 0.05 per share by the shipping company on Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, June 2nd.

Pangaea Logistics Solutions has increased its dividend by an average of 47.4% annually over the last three years. Pangaea Logistics Solutions has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 153.8%.

Pangaea Logistics Solutions Stock Down 2.7%

Shares of PANL stock traded down $0.12 on Monday, reaching $4.38. 235,772 shares of the company's stock traded hands, compared to its average volume of 204,496. Pangaea Logistics Solutions has a 12-month low of $3.93 and a 12-month high of $8.32. The company has a market capitalization of $287.42 million, a P/E ratio of 9.32 and a beta of 0.63. 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 business's 50 day moving average price is $4.34 and its two-hundred day moving average price is $4.99.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.12. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. The firm had revenue of $122.80 million during the quarter, compared to analyst estimates of $130.37 million. During the same period last year, the company posted $0.14 EPS. On average, equities analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its position in Pangaea Logistics Solutions by 7.3% during the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company's stock valued at $1,818,000 after acquiring an additional 25,851 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company's stock worth $1,112,000 after purchasing an additional 14,357 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Pangaea Logistics Solutions during the 1st quarter valued at $195,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company's stock valued at $102,000 after purchasing an additional 3,344 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.