Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL – Get Rating)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.93 and traded as high as $6.19. Pangaea Logistics Solutions shares last traded at $6.06, with a volume of 89,078 shares changing hands.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 12th.
Pangaea Logistics Solutions Trading Down 0.2 %
The stock’s fifty day moving average price is $5.93 and its 200 day moving average price is $5.73. The company has a quick ratio of 2.22, a current ratio of 2.52 and a debt-to-equity ratio of 0.72. The stock has a market cap of $281.59 million, a PE ratio of 4.33 and a beta of 0.71.
Pangaea Logistics Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.60%. The ex-dividend date is Wednesday, May 31st. Pangaea Logistics Solutions’s dividend payout ratio is currently 28.57%.
Institutional Investors Weigh In On Pangaea Logistics Solutions
Several institutional investors and hedge funds have recently added to or reduced their stakes in PANL. JPMorgan Chase & Co. purchased a new stake in Pangaea Logistics Solutions in the first quarter worth approximately $467,000. Bank of New York Mellon Corp purchased a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth $69,000. American Century Companies Inc. boosted its stake in shares of Pangaea Logistics Solutions by 30.9% during the 1st quarter. American Century Companies Inc. now owns 75,683 shares of the shipping company’s stock worth $421,000 after acquiring an additional 17,878 shares during the last quarter. Citigroup Inc. purchased a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth $202,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Pangaea Logistics Solutions by 15.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 471,438 shares of the shipping company’s stock worth $2,621,000 after acquiring an additional 63,395 shares during the last quarter. Hedge funds and other institutional investors own 45.35% of the company’s stock.
Pangaea Logistics Solutions Company Profile
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.
- Get a free copy of the StockNews.com research report on Pangaea Logistics Solutions (PANL)
- Airline ETFs: What They Are and How to Invest
- Williams-Sonoma Is The Retail Value Play, Here’s Why
- Ladder Corporation: Climbing Higher And Paying 9% Yield
- Microbot Medical spikes 150% on its Endovascular Surgical Robot
- PetMed Express: Charts Say This Could Be The Bottom
Receive News & Ratings for Pangaea Logistics Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pangaea Logistics Solutions and related companies with MarketBeat.com's FREE daily email newsletter.