American Century Companies Inc. boosted its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 42.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,300 shares of the shipping company’s stock after acquiring an additional 10,564 shares during the period. American Century Companies Inc. owned 0.08% of Pangaea Logistics Solutions worth $177,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its holdings in Pangaea Logistics Solutions by 159.0% in the first quarter. Barclays PLC now owns 8,838 shares of the shipping company’s stock worth $28,000 after acquiring an additional 5,426 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Pangaea Logistics Solutions in the second quarter worth approximately $61,000. Acadian Asset Management LLC bought a new position in Pangaea Logistics Solutions in the first quarter worth approximately $181,000. Renaissance Technologies LLC bought a new position in Pangaea Logistics Solutions in the first quarter worth approximately $597,000. Finally, BlackRock Inc. boosted its holdings in Pangaea Logistics Solutions by 9.8% in the first quarter. BlackRock Inc. now owns 535,892 shares of the shipping company’s stock worth $1,693,000 after acquiring an additional 47,765 shares in the last quarter. Institutional investors and hedge funds own 37.25% of the company’s stock.
Shares of PANL opened at $5.10 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $232.63 million, a price-to-earnings ratio of 5.67 and a beta of 0.76. The stock has a 50 day moving average of $4.97 and a 200 day moving average of $4.23. Pangaea Logistics Solutions, Ltd. has a 12 month low of $2.25 and a 12 month high of $6.20.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Tuesday, August 31st. Pangaea Logistics Solutions’s payout ratio is 43.75%.
A number of research firms have recently weighed in on PANL. Zacks Investment Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Saturday, July 24th. B. Riley began coverage on Pangaea Logistics Solutions in a report on Friday, September 17th. They issued a “buy” rating and a $7.50 target price on the stock.
About Pangaea Logistics Solutions
Pangaea Logistics Solutions Ltd. engages in the provision of seaborne dry bulk logistics and transportation services to industrial customers worldwide. It operates through following segments: Supramax, Ultramax, Panamax, and Handymax vessels. The company was founded by Edward Coll, Carl Claus Boggild, and Anthony Laura on April 29, 2014 and is headquartered in Newport, RI.
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