Pangaea Logistics Solutions (NASDAQ:PANL) Sets New 1-Year High – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $10.15 and last traded at $9.49, with a volume of 3,091 shares traded. The stock had previously closed at $9.46.

Analyst Ratings Changes

A number of brokerages have recently commented on PANL. Weiss Ratings raised shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Zacks Research raised Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Pangaea Logistics Solutions has an average rating of “Buy”.

Pangaea Logistics Solutions Stock Down 0.1%

The firm has a market capitalization of $618.69 million, a price-to-earnings ratio of 8.18 and a beta of 0.91. The business has a 50 day moving average of $8.17 and a 200 day moving average of $7.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.52 and a quick ratio of 1.12.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. The firm had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. On average, equities analysts anticipate that Pangaea Logistics Solutions Ltd. will post 1.22 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Pangaea Logistics Solutions by 13.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after acquiring an additional 351,385 shares during the period. Renaissance Technologies LLC raised its position in Pangaea Logistics Solutions by 33.0% in the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after purchasing an additional 185,100 shares in the last quarter. Empowered Funds LLC lifted its stake in Pangaea Logistics Solutions by 9.8% during the first quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company’s stock worth $2,925,000 after purchasing an additional 36,990 shares during the period. Ritholtz Wealth Management lifted its stake in Pangaea Logistics Solutions by 143.8% during the third quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock worth $1,586,000 after purchasing an additional 116,658 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Pangaea Logistics Solutions by 66.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after purchasing an additional 83,380 shares during the period. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.