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

Royce & Associates LP lifted its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 24.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 960,102 shares of the shipping company’s stock after buying an additional 185,650 shares during the quarter. Royce & Associates LP owned approximately 1.48% of Pangaea Logistics Solutions worth $5,146,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter worth about $55,000. Bank of New York Mellon Corp lifted its position in shares of Pangaea Logistics Solutions by 3.3% in the 4th 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. Empowered Funds LLC boosted its stake in shares of Pangaea Logistics Solutions by 5.1% during the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock valued at $1,909,000 after purchasing an additional 17,389 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at approximately $123,000. Finally, Barclays PLC raised its stake in Pangaea Logistics Solutions by 271.4% in the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after buying an additional 34,273 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

NASDAQ PANL opened at $5.50 on Thursday. The firm’s fifty day simple moving average is $5.28 and its two-hundred day simple moving average is $5.82. The firm has a market capitalization of $357.29 million, a P/E ratio of 11.70 and a beta of 0.84. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 12-month low of $4.69 and a 12-month high of $8.32.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 7.27%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 64.52%.

Wall Street Analyst Weigh In

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

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.