10,072 Shares in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,072 shares of the shipping company’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 2,916 shares during the last quarter. Wells Fargo & Company MN raised its stake in Pangaea Logistics Solutions by 27.8% in the 4th 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 last quarter. Bank of America Corp DE raised its stake in Pangaea Logistics Solutions by 27.5% in the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company’s stock worth $173,000 after acquiring an additional 6,965 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Pangaea Logistics Solutions by 469.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock worth $48,000 after acquiring an additional 7,412 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in Pangaea Logistics Solutions by 99.0% in the 4th quarter. MetLife Investment Management LLC now owns 19,647 shares of the shipping company’s stock worth $105,000 after acquiring an additional 9,773 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday.

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $4.25 on Friday. The stock has a market cap of $278.92 million, a PE ratio of 9.04 and a beta of 0.63. The business has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $5.17. 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, Ltd. has a 52-week low of $3.93 and a 52-week high of $8.32.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.12. The business had revenue of $122.80 million during the quarter, compared to analysts’ expectations of $130.37 million. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 2nd. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 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.