Empowered Funds LLC Raises Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Empowered Funds LLC raised its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 5.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 338,679 shares of the shipping company’s stock after acquiring an additional 17,152 shares during the period. Empowered Funds LLC’s holdings in Pangaea Logistics Solutions were worth $2,449,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Royce & Associates LP raised its stake in shares of Pangaea Logistics Solutions by 2.1% during the 3rd quarter. Royce & Associates LP now owns 774,452 shares of the shipping company’s stock valued at $5,599,000 after buying an additional 16,207 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Pangaea Logistics Solutions by 16.7% in the 3rd quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock worth $1,033,000 after buying an additional 20,498 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Pangaea Logistics Solutions in the 3rd quarter worth about $761,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pangaea Logistics Solutions during the 3rd quarter worth approximately $113,000. Finally, Lakewood Asset Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 8.4% during the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after purchasing an additional 2,830 shares during the last quarter. Hedge funds and other institutional investors 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 Price Performance

PANL stock opened at $6.05 on Wednesday. The firm has a market cap of $283.75 million, a PE ratio of 12.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The firm’s 50 day moving average price is $6.57 and its 200-day moving average price is $7.07. Pangaea Logistics Solutions, Ltd. has a one year low of $5.77 and a one year high of $9.52.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, November 29th. Pangaea Logistics Solutions’s 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.