BNP Paribas Financial Markets Sells 12,400 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

BNP Paribas Financial Markets lowered its holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 38.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,738 shares of the shipping company’s stock after selling 12,400 shares during the period. BNP Paribas Financial Markets’ holdings in Pangaea Logistics Solutions were worth $143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Pangaea Logistics Solutions by 6.7% in the second quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after buying an additional 1,514 shares in the last quarter. Lakewood Asset Management LLC lifted its position 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 valued at $263,000 after acquiring an additional 2,830 shares during the period. Algert Global LLC lifted its position in shares of Pangaea Logistics Solutions by 20.1% during the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after acquiring an additional 3,044 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pangaea Logistics Solutions during the 2nd quarter worth $58,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Pangaea Logistics Solutions by 21.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 42,165 shares of the shipping company’s stock worth $330,000 after purchasing an additional 7,494 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL opened at $5.08 on Wednesday. The firm’s 50 day simple moving average is $6.12 and its 200 day simple moving average is $6.76. The firm has a market capitalization of $238.26 million, a price-to-earnings ratio of 10.83 and a beta of 0.83. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 1 year low of $5.03 and a 1 year high of $9.52.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date of this dividend was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio is presently 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.