Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Stock Holdings Lessened by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,491,543 shares of the shipping company’s stock after selling 108,800 shares during the period. Wellington Management Group LLP’s holdings in Pangaea Logistics Solutions were worth $10,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in 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 worth $2,076,000 after buying an additional 150,713 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $14,514,000 after acquiring an additional 112,298 shares during the period. Janney Montgomery Scott LLC bought a new stake in Pangaea Logistics Solutions in the 3rd quarter valued at about $761,000. American Century Companies Inc. boosted its stake in Pangaea Logistics Solutions by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares during the period. Finally, Marshall Wace LLP bought a new position in Pangaea Logistics Solutions in the 2nd quarter worth about $381,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Trading Up 0.4 %

NASDAQ:PANL opened at $5.35 on Monday. The stock has a market cap of $250.92 million, a price-to-earnings ratio of 11.38 and a beta of 0.83. 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 1 year low of $5.23 and a 1 year high of $9.52. The business has a fifty day moving average of $6.15 and a 200-day moving average of $6.78.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.10 dividend. 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 7.48%. Pangaea Logistics Solutions’s dividend payout ratio is presently 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.