Bank of New York Mellon Corp Acquires 2,916 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Bank of New York Mellon Corp boosted its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,114 shares of the shipping company’s stock after acquiring an additional 2,916 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pangaea Logistics Solutions were worth $494,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Pangaea Logistics Solutions during the 4th quarter valued at $123,000. Barclays PLC increased its position in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after acquiring an additional 34,273 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Pangaea Logistics Solutions by 7.9% during the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after buying an additional 4,499 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pangaea Logistics Solutions by 16.7% in the third quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock worth $1,033,000 after purchasing an additional 20,498 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Pangaea Logistics Solutions by 5.1% in the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock worth $1,909,000 after purchasing an additional 17,389 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Trading Down 0.2 %

Pangaea Logistics Solutions stock opened at $5.03 on Friday. The stock has a 50-day moving average price of $5.23 and a 200 day moving average price of $5.77. The company has a market capitalization of $330.11 million, a price-to-earnings ratio of 10.70 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 52 week low of $4.69 and a 52 week high of $8.32.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Tuesday.

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.