Empowered Funds LLC Acquires 17,389 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Empowered Funds LLC grew its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 356,068 shares of the shipping company’s stock after acquiring an additional 17,389 shares during the period. Empowered Funds LLC owned about 0.76% of Pangaea Logistics Solutions worth $1,909,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PANL. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $113,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $123,000. Barclays PLC grew its stake in Pangaea Logistics Solutions by 271.4% in the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after acquiring an additional 34,273 shares during the period. Jane Street Group LLC boosted its stake in Pangaea Logistics Solutions by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock worth $446,000 after purchasing an additional 4,499 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth $761,000. Institutional investors own 60.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $5.20 on Friday. The stock has a 50 day moving average price of $5.32 and a 200 day moving average price of $6.06. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $337.79 million, a price-to-earnings ratio of 11.06 and a beta of 0.84. Pangaea Logistics Solutions, Ltd. has a 52-week low of $4.82 and a 52-week high of $8.63.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.69%. The ex-dividend date is Friday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Pangaea Logistics Solutions 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.