Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 851,931 shares of the shipping company’s stock after acquiring an additional 14,104 shares during the quarter. Geode Capital Management LLC’s holdings in Pangaea Logistics Solutions were worth $4,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted 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 purchasing an additional 34,273 shares during the period. State Street Corp increased its stake in Pangaea Logistics Solutions by 0.8% in the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock valued at $4,173,000 after purchasing an additional 4,564 shares during the last quarter. Empowered Funds LLC lifted its position in Pangaea Logistics Solutions by 5.1% during the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock worth $1,909,000 after buying an additional 17,389 shares during the period. Jane Street Group LLC lifted its position in 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 worth $446,000 after buying an additional 4,499 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in Pangaea Logistics Solutions in the 4th quarter worth about $55,000. 60.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th.

Pangaea Logistics Solutions Stock Down 1.4 %

Shares of PANL opened at $4.22 on Friday. Pangaea Logistics Solutions, Ltd. has a fifty-two week low of $3.93 and a fifty-two week high of $8.32. The company’s fifty day moving average is $4.77 and its two-hundred day moving average is $5.38. The firm has a market cap of $276.95 million, a PE ratio of 8.98 and a beta of 0.68. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions’s payout ratio is currently 64.52%.

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.