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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) announced a quarterly dividend on Thursday, May 8th, NASDAQ Dividends reports. Investors of record on Monday, June 2nd will be given a dividend of 0.05 per share by the shipping company on Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, June 2nd.

Pangaea Logistics Solutions has increased its dividend payment 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 Trading Up 0.4%

Shares of NASDAQ PANL traded up $0.02 during midday trading on Wednesday, reaching $4.54. 163,202 shares of the stock were exchanged, compared to its average volume of 204,308. The company has a market capitalization of $297.92 million, a price-to-earnings ratio of 9.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The business has a 50-day simple moving average of $4.33 and a two-hundred day simple moving average of $4.99. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $8.22.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $122.80 million during the quarter, compared to analysts' expectations of $130.37 million. During the same quarter last year, the company posted $0.14 earnings per share. As a group, equities research analysts expect that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company's stock worth $102,000 after buying an additional 3,344 shares in the last quarter. AQR Capital Management LLC purchased a new position in Pangaea Logistics Solutions during the first quarter worth about $195,000. Goldman Sachs Group Inc. lifted its position in Pangaea Logistics Solutions by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company's stock valued at $1,112,000 after purchasing an additional 14,357 shares during the last quarter. Finally, 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 purchasing an additional 25,851 shares in the last quarter. Institutional investors own 60.23% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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.