Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings results on Tuesday. The shipping company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24, reports. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. The company had revenue of $153.12 million during the quarter, compared to analysts’ expectations of $138.65 million.

Pangaea Logistics Solutions Price Performance

Pangaea Logistics Solutions stock opened at $6.41 on Friday. The firm has a market capitalization of $300.63 million, a P/E ratio of 13.64 and a beta of 0.87. Pangaea Logistics Solutions has a one year low of $6.09 and a one year high of $9.52. The business has a fifty day moving average price of $6.57 and a 200-day moving average price of $7.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Pangaea Logistics Solutions by 131.7% during the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after purchasing an additional 150,713 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock valued at $14,514,000 after purchasing an additional 112,298 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Pangaea Logistics Solutions in the 3rd quarter worth $761,000. American Century Companies Inc. boosted its stake in shares of Pangaea Logistics Solutions by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock worth $5,683,000 after buying an additional 89,570 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in Pangaea Logistics Solutions during the first quarter valued at about $425,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday.

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.