Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a report published on Friday morning.

Pangaea Logistics Solutions Stock Down 1.7 %

NASDAQ:PANL opened at $6.30 on Friday. The firm has a market capitalization of $295.48 million, a price-to-earnings ratio of 13.40 and a beta of 0.87. Pangaea Logistics Solutions has a twelve month low of $6.09 and a twelve month high of $9.52. The stock’s 50 day moving average price is $6.58 and its two-hundred day moving average price is $7.08. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 6.35%. Pangaea Logistics Solutions’s dividend payout ratio is currently 85.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock worth $6,059,000 after acquiring an additional 60,841 shares during the period. Barclays PLC boosted its stake in shares of Pangaea Logistics Solutions by 271.4% during the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after acquiring an additional 34,273 shares during the period. Jane Street Group LLC grew its holdings in Pangaea Logistics Solutions by 7.9% in the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after buying an additional 4,499 shares in the last quarter. State Street Corp increased its position in Pangaea Logistics Solutions by 0.8% during the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after buying an additional 4,564 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Pangaea Logistics Solutions by 5.3% during the third quarter. Empowered Funds LLC now owns 338,679 shares of the shipping company’s stock worth $2,449,000 after buying an additional 17,152 shares in 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.