Dimensional Fund Advisors LP Purchases 112,298 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Dimensional Fund Advisors LP boosted its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,853,611 shares of the shipping company’s stock after purchasing an additional 112,298 shares during the period. Dimensional Fund Advisors LP owned about 3.95% of Pangaea Logistics Solutions worth $14,514,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANL. Quarry LP acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $35,000. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions in the 1st quarter valued at $61,000. Hillsdale Investment Management Inc. acquired a new stake in Pangaea Logistics Solutions during the 1st quarter valued at $114,000. Principal Financial Group Inc. bought a new position in Pangaea Logistics Solutions during the first quarter worth $157,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Pangaea Logistics Solutions by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock valued at $196,000 after purchasing an additional 9,352 shares during the last quarter. Institutional investors own 60.23% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th.

Pangaea Logistics Solutions Trading Up 2.2 %

Shares of NASDAQ:PANL opened at $7.02 on Friday. Pangaea Logistics Solutions, Ltd. has a 12-month low of $5.74 and a 12-month high of $9.52. The business has a 50 day moving average of $6.68 and a 200-day moving average of $7.16. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The stock has a market cap of $329.25 million, a PE ratio of 9.24 and a beta of 0.86.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The firm had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, equities research analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.76 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.70%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 52.63%.

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.