Barclays PLC Purchases 34,273 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Barclays PLC boosted its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 271.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,899 shares of the shipping company’s stock after buying an additional 34,273 shares during the period. Barclays PLC owned approximately 0.10% of Pangaea Logistics Solutions worth $339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position 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 in the last quarter. AQR Capital Management LLC boosted its stake 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 last quarter. Janney Montgomery Scott LLC acquired a new position in Pangaea Logistics Solutions during the 3rd quarter valued at about $761,000. State Street Corp boosted its stake in Pangaea Logistics Solutions by 0.8% during the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock valued at $4,173,000 after purchasing an additional 4,564 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Pangaea Logistics Solutions during the 2nd quarter valued at about $270,000. 60.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Pangaea Logistics Solutions Price Performance

PANL stock opened at $5.60 on Friday. The company has a market capitalization of $262.65 million, a P/E ratio of 11.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions, Ltd. has a 52-week low of $4.82 and a 52-week high of $9.52. The business has a 50-day simple moving average of $5.75 and a two-hundred day simple moving average of $6.51.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders 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 yield of 7.14%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 85.11%.

Pangaea Logistics Solutions Company 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.