SG Americas Securities LLC Sells 3,150 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

SG Americas Securities LLC reduced its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL – Get Rating) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,546 shares of the shipping company’s stock after selling 3,150 shares during the quarter. SG Americas Securities LLC owned 0.07% of Pangaea Logistics Solutions worth $162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANL. JPMorgan Chase & Co. bought a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $467,000. Bank of New York Mellon Corp bought a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $69,000. American Century Companies Inc. boosted its holdings in Pangaea Logistics Solutions by 30.9% in the first quarter. American Century Companies Inc. now owns 75,683 shares of the shipping company’s stock valued at $421,000 after acquiring an additional 17,878 shares in the last quarter. Citigroup Inc. bought a new stake in Pangaea Logistics Solutions in the first quarter valued at $202,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Pangaea Logistics Solutions by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 471,438 shares of the shipping company’s stock valued at $2,621,000 after acquiring an additional 63,395 shares in the last quarter. 45.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Pangaea Logistics Solutions Stock Performance

Pangaea Logistics Solutions stock opened at $6.12 on Friday. Pangaea Logistics Solutions, Ltd. has a fifty-two week low of $4.23 and a fifty-two week high of $7.12. The stock has a market cap of $284.46 million, a price-to-earnings ratio of 3.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.10 and a current ratio of 2.41. The stock’s 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $5.66.

Pangaea Logistics Solutions (NASDAQ:PANL – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The shipping company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Pangaea Logistics Solutions had a return on equity of 23.75% and a net margin of 11.36%. The company had revenue of $127.92 million during the quarter, compared to the consensus estimate of $164.88 million. As a group, analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.83 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Wednesday, May 31st. Pangaea Logistics Solutions’s payout ratio is 22.60%.

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.