Janney Montgomery Scott LLC Acquires New Stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Janney Montgomery Scott LLC acquired a new stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 105,240 shares of the shipping company’s stock, valued at approximately $761,000. Janney Montgomery Scott LLC owned about 0.22% of Pangaea Logistics Solutions as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pangaea Logistics Solutions during the second quarter valued at $58,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions during the first quarter valued at $61,000. Mackenzie Financial Corp acquired a new stake in shares of Pangaea Logistics Solutions during the second quarter valued at $110,000. Wealth Enhancement Advisory Services LLC purchased a new position in Pangaea Logistics Solutions during the third quarter worth about $113,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Pangaea Logistics Solutions during the first quarter worth about $114,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Stock Performance

Pangaea Logistics Solutions stock opened at $6.30 on Monday. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $7.08. The company has a market cap of $295.48 million, a price-to-earnings ratio of 13.40 and a beta of 0.87. 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, Ltd. has a 12 month low of $6.09 and a 12 month high of $9.52.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 6.35%. Pangaea Logistics Solutions’s payout ratio is currently 85.11%.

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.