Geode Capital Management LLC Increases Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Geode Capital Management LLC lifted its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 837,827 shares of the shipping company’s stock after purchasing an additional 60,841 shares during the quarter. Geode Capital Management LLC owned about 1.79% of Pangaea Logistics Solutions worth $6,059,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PANL. Dimensional Fund Advisors LP increased its stake in Pangaea Logistics Solutions by 6.4% in 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 buying an additional 112,298 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 131.7% in the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after acquiring an additional 150,713 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Pangaea Logistics Solutions during the third quarter worth about $761,000. State Street Corp raised its holdings in Pangaea Logistics Solutions by 0.8% during the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Pangaea Logistics Solutions during the second quarter worth about $270,000. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Trading Down 0.7 %

Shares of PANL stock opened at $5.60 on Friday. The business’s fifty day moving average price is $5.75 and its 200 day moving average price is $6.51. The firm has a market capitalization of $262.65 million, a PE ratio of 11.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. Pangaea Logistics Solutions, Ltd. has a 1-year low of $4.82 and a 1-year high of $9.52.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.14%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analysts Forecast Growth

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

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.