Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) issued its earnings results on Monday. The shipping company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02, Zacks reports. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%.The business had revenue of $187.12 million during the quarter, compared to analysts’ expectations of $192.76 million.

Pangaea Logistics Solutions Price Performance

PANL opened at $7.33 on Tuesday. The stock has a market cap of $479.49 million, a price-to-earnings ratio of 13.33 and a beta of 0.79. Pangaea Logistics Solutions has a 1 year low of $4.54 and a 1 year high of $9.39. The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $7.25 and a 200 day moving average price of $7.71.

Pangaea Logistics Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.10 per share. This is a positive change from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, September 1st. Pangaea Logistics Solutions’s dividend payout ratio is 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in PANL. Millennium Management LLC lifted its holdings in shares of Pangaea Logistics Solutions by 1,846.9% during the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after buying an additional 416,439 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Pangaea Logistics Solutions by 44.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock valued at $2,571,000 after acquiring an additional 115,257 shares in the last quarter. Numerai GP LLC bought a new position in Pangaea Logistics Solutions during the fourth quarter valued at approximately $751,000. First Trust Advisors LP acquired a new stake in Pangaea Logistics Solutions in the third quarter valued at approximately $532,000. Finally, Dimensional Fund Advisors LP lifted its stake in Pangaea Logistics Solutions by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,533,085 shares of the shipping company’s stock valued at $17,428,000 after acquiring an additional 100,331 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on PANL shares. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.