Pangaea Logistics Solutions (NASDAQ:PANL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Pangaea Logistics Solutions Stock Down 4.6 %

Shares of NASDAQ:PANL opened at $5.00 on Tuesday. Pangaea Logistics Solutions has a 52-week low of $4.69 and a 52-week high of $8.32. The company has a market capitalization of $328.14 million, a PE ratio of 10.64 and a beta of 0.84. 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 company has a fifty day moving average of $5.26 and a 200-day moving average of $5.78.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 8.00%. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Pangaea Logistics Solutions by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company’s stock valued at $494,000 after buying an additional 2,916 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Pangaea Logistics Solutions by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company’s stock valued at $99,000 after acquiring an additional 4,007 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Pangaea Logistics Solutions by 7.9% during the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after acquiring an additional 4,499 shares during the last quarter. State Street Corp lifted its holdings in shares of Pangaea Logistics Solutions by 0.8% during the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after purchasing an additional 4,564 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Pangaea Logistics Solutions by 27.5% in the fourth quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company’s stock worth $173,000 after purchasing an additional 6,965 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors.

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.