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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, December 1st will be paid a dividend of 0.05 per share by the shipping company on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, December 1st.

Pangaea Logistics Solutions has raised its dividend payment by an average of 0.3%per year over the last three years. Pangaea Logistics Solutions has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NASDAQ:PANL traded up $0.54 on Friday, hitting $5.47. The company’s stock had a trading volume of 183,531 shares, compared to its average volume of 227,524. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $6.80. The company has a market capitalization of $356.81 million, a price-to-earnings ratio of 24.84 and a beta of 0.73. The stock’s 50-day moving average is $5.12 and its two-hundred day moving average is $4.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.46.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The business had revenue of $168.67 million for the quarter, compared to analysts’ expectations of $159.32 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. On average, equities research analysts forecast that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in shares of Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,825 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $65,000. Wealth Enhancement Advisory Services LLC increased its stake in Pangaea Logistics Solutions by 15.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company’s stock worth $88,000 after purchasing an additional 2,551 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 worth $102,000 after purchasing an additional 3,344 shares in the last quarter. Finally, Creative Planning raised its holdings in Pangaea Logistics Solutions by 94.2% during the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after buying an additional 11,204 shares during the period. 60.23% of the stock is owned by institutional investors.

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.