Royce & Associates LP Grows Position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Royce & Associates LP grew its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 24.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 960,102 shares of the shipping company’s stock after buying an additional 185,650 shares during the period. Royce & Associates LP’s holdings in Pangaea Logistics Solutions were worth $5,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PANL. Commonwealth Equity Services LLC purchased a new stake in shares of Pangaea Logistics Solutions during the fourth quarter valued at $55,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in Pangaea Logistics Solutions during the 4th quarter valued at about $123,000. Barclays PLC increased its holdings in shares of Pangaea Logistics Solutions by 271.4% in the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after purchasing an additional 34,273 shares during the period. Jane Street Group LLC raised its stake in shares of 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 last quarter. Finally, Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 2,916 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Trading Down 2.0 %

Shares of Pangaea Logistics Solutions stock opened at $5.50 on Thursday. The stock has a market cap of $357.29 million, a PE ratio of 11.70 and a beta of 0.84. The firm has a fifty day moving average price of $5.28 and a 200 day moving average price of $5.82. Pangaea Logistics Solutions, Ltd. has a 1 year low of $4.69 and a 1 year high of $8.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.27%. Pangaea Logistics Solutions’s payout ratio is currently 64.52%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a report on Monday.

Pangaea Logistics Solutions 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.