MetLife Investment Management LLC Buys 9,773 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

MetLife Investment Management LLC grew its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 99.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,647 shares of the shipping company’s stock after purchasing an additional 9,773 shares during the quarter. MetLife Investment Management LLC’s holdings in Pangaea Logistics Solutions were worth $105,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in shares of Pangaea Logistics Solutions during the 4th quarter worth about $55,000. Virtu Financial LLC acquired a new stake in Pangaea Logistics Solutions during the fourth quarter worth approximately $59,000. Wells Fargo & Company MN boosted its holdings in shares of Pangaea Logistics Solutions by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company’s stock worth $99,000 after acquiring an additional 4,007 shares during the period. Koss Olinger Consulting LLC acquired a new position in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $105,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth approximately $123,000. 60.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Pangaea Logistics Solutions Stock Down 1.5 %

NASDAQ PANL opened at $4.01 on Friday. The company has a market cap of $263.17 million, a price-to-earnings ratio of 8.53 and a beta of 0.63. Pangaea Logistics Solutions, Ltd. has a 1-year low of $3.93 and a 1-year high of $8.32. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $4.55 and a 200-day moving average of $5.22.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given 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 9.98%. Pangaea Logistics Solutions’s payout ratio is 64.52%.

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.