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

Hudson Valley Investment Advisors Inc. ADV purchased a new stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,000 shares of the shipping company’s stock, valued at approximately $123,000.

A number of other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Pangaea Logistics Solutions by 6.7% in the second quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 1,514 shares during the period. Lakewood Asset Management LLC lifted its holdings in Pangaea Logistics Solutions by 8.4% during the third quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after buying an additional 2,830 shares during the period. Algert Global LLC lifted its holdings in Pangaea Logistics Solutions by 20.1% during the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after buying an additional 3,044 shares during the period. Jane Street Group LLC lifted its holdings in 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 worth $446,000 after buying an additional 4,499 shares during the period. Finally, State Street Corp lifted its holdings in Pangaea Logistics Solutions by 0.8% during the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after buying an additional 4,564 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

Pangaea Logistics Solutions stock opened at $5.43 on Friday. The business has a fifty day moving average of $5.67 and a two-hundred day moving average of $6.45. 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 firm has a market cap of $254.68 million, a P/E ratio of 11.55 and a beta of 0.84. Pangaea Logistics Solutions, Ltd. has a twelve month low of $4.82 and a twelve month high of $9.52.

Pangaea Logistics Solutions Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Company 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.