Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL – Get Rating) by 38.9% during the third quarter, Holdings Channel reports. The institutional investor owned 57,300 shares of the shipping company’s stock after selling 36,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Pangaea Logistics Solutions were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of Pangaea Logistics Solutions by 1,977.9% in the first quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 4,569 shares in the last quarter. UBS Group AG lifted its holdings in shares of Pangaea Logistics Solutions by 67.6% in the second quarter. UBS Group AG now owns 7,466 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 3,012 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Pangaea Logistics Solutions in the second quarter valued at about $58,000. Engineers Gate Manager LP purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at about $66,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at about $69,000. Hedge funds and other institutional investors own 45.35% of the company’s stock.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $6.63 on Friday. The firm has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $5.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.44 and a quick ratio of 2.11. The firm has a market cap of $304.45 million, a PE ratio of 3.69 and a beta of 0.73. Pangaea Logistics Solutions, Ltd. has a 1-year low of $4.23 and a 1-year high of $7.05.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Tuesday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio is presently 22.60%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 11th.

Pangaea Logistics Solutions Profile

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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne dry bulk logistics and transportation services to industrial customers worldwide. The firm services customers that require transportation of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.