Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) to Issue Quarterly Dividend of $0.05

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) announced a quarterly dividend on Tuesday, February 17th. Investors of record on Friday, February 27th will be given a dividend of 0.05 per share by the shipping company on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, February 27th.

Pangaea Logistics Solutions has increased its dividend by an average of 0.3%per year over the last three years. Pangaea Logistics Solutions has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 153.8%.

Pangaea Logistics Solutions Trading Up 1.1%

PANL traded up $0.09 during mid-day trading on Tuesday, hitting $8.57. 548,257 shares of the stock were exchanged, compared to its average volume of 715,505. The firm’s fifty day moving average is $7.51 and its two-hundred day moving average is $6.20. Pangaea Logistics Solutions has a 1-year low of $3.93 and a 1-year high of $9.17. The company has a market cap of $556.79 million, a PE ratio of 28.57 and a beta of 0.79. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors have recently added to or reduced their stakes in the business. LOM Asset Management Ltd acquired a new position in Pangaea Logistics Solutions in the fourth quarter valued at $34,000. BNP Paribas Financial Markets grew its holdings in shares of Pangaea Logistics Solutions by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after buying an additional 2,864 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $53,000. Tower Research Capital LLC TRC increased its position in Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 4,825 shares during the period. Finally, Algert Global LLC purchased a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.