BNP Paribas Financial Markets Has $143,000 Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

BNP Paribas Financial Markets lowered its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 38.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,738 shares of the shipping company’s stock after selling 12,400 shares during the quarter. BNP Paribas Financial Markets’ holdings in Pangaea Logistics Solutions were worth $143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PANL. Point72 Asia Singapore Pte. Ltd. bought a new position in Pangaea Logistics Solutions in the second quarter valued at approximately $58,000. Mackenzie Financial Corp acquired a new position in Pangaea Logistics Solutions during the second quarter worth $110,000. Wealth Enhancement Advisory Services LLC bought a new stake in Pangaea Logistics Solutions during the third quarter worth $113,000. Algert Global LLC lifted its stake in Pangaea Logistics Solutions by 20.1% in the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Pangaea Logistics Solutions by 6.7% in the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after acquiring an additional 1,514 shares during the period. Institutional investors own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Stock Performance

PANL opened at $5.08 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 12-month low of $5.03 and a 12-month high of $9.52. The business has a 50 day moving average of $6.12 and a 200-day moving average of $6.76. The stock has a market cap of $238.26 million, a price-to-earnings ratio of 10.83 and a beta of 0.83.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.87%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio is 85.11%.

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.