Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a research note released on Friday morning.

Pangaea Logistics Solutions Stock Down 4.0 %

Shares of NASDAQ PANL opened at $6.05 on Friday. The stock has a market capitalization of $283.76 million, a P/E ratio of 12.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. Pangaea Logistics Solutions has a one year low of $6.05 and a one year high of $9.52. The firm’s 50 day simple moving average is $6.58 and its two-hundred day simple moving average is $7.08.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 6.61%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Pangaea Logistics Solutions by 131.7% in the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after purchasing an additional 150,713 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pangaea Logistics Solutions by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after acquiring an additional 112,298 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Pangaea Logistics Solutions during the third quarter worth about $761,000. American Century Companies Inc. increased its stake in shares of Pangaea Logistics Solutions by 14.1% during the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Pangaea Logistics Solutions during the first quarter valued at approximately $425,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.