LSV Asset Management Has $352,000 Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

LSV Asset Management reduced its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 58.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,700 shares of the shipping company's stock after selling 92,593 shares during the period. LSV Asset Management owned approximately 0.10% of Pangaea Logistics Solutions worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Pangaea Logistics Solutions by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company's stock worth $494,000 after buying an additional 2,916 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Pangaea Logistics Solutions by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock worth $99,000 after buying an additional 4,007 shares in the last quarter. Jane Street Group LLC lifted its position in Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company's stock worth $446,000 after purchasing an additional 4,499 shares during the period. State Street Corp raised its position in Pangaea Logistics Solutions by 0.8% in the third quarter. State Street Corp now owns 577,110 shares of the shipping company's stock worth $4,173,000 after acquiring an additional 4,564 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Pangaea Logistics Solutions in the 4th quarter worth $55,000. Institutional investors and hedge funds own 60.23% of the company's stock.

Pangaea Logistics Solutions Stock Down 2.8 %

NASDAQ PANL traded down $0.12 on Monday, reaching $4.14. The company had a trading volume of 33,135 shares, compared to its average volume of 188,357. The firm has a market capitalization of $271.70 million, a price-to-earnings ratio of 8.81 and a beta of 0.68. Pangaea Logistics Solutions, Ltd. has a 1-year low of $3.93 and a 1-year high of $8.32. The company's fifty day moving average is $4.87 and its 200-day moving average is $5.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05.

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions's dividend payout ratio is 64.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, March 25th.

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.