Hudson Valley Investment Advisors Inc. ADV Takes Position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,000 shares of the shipping company’s stock, valued at approximately $123,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PANL. Dimensional Fund Advisors LP increased its position 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 valued at $14,514,000 after acquiring an additional 112,298 shares during the period. Geode Capital Management LLC increased its position in shares of Pangaea Logistics Solutions by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock valued at $6,059,000 after acquiring an additional 60,841 shares during the period. Royce & Associates LP increased its position in shares of Pangaea Logistics Solutions by 2.1% in the 3rd quarter. Royce & Associates LP now owns 774,452 shares of the shipping company’s stock valued at $5,599,000 after acquiring an additional 16,207 shares during the period. American Century Companies Inc. increased its position in shares of Pangaea Logistics Solutions by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after acquiring an additional 89,570 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Pangaea Logistics Solutions by 4.6% in the 2nd quarter. Renaissance Technologies LLC now owns 614,150 shares of the shipping company’s stock valued at $4,809,000 after acquiring an additional 26,750 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

NASDAQ:PANL opened at $5.43 on Friday. Pangaea Logistics Solutions, Ltd. has a 52 week low of $4.82 and a 52 week high of $9.52. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $254.68 million, a PE ratio of 11.55 and a beta of 0.84. The stock’s 50-day moving average price is $5.67 and its 200-day moving average price is $6.45.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions 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.