O Shaughnessy Asset Management LLC Decreases Stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

O Shaughnessy Asset Management LLC reduced its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 32.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,614 shares of the shipping company’s stock after selling 13,903 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Pangaea Logistics Solutions were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock valued at $6,059,000 after acquiring an additional 60,841 shares during the period. Barclays PLC raised its holdings in shares of Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after purchasing an additional 34,273 shares during the last quarter. State Street Corp lifted its position 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 valued at $4,173,000 after purchasing an additional 4,564 shares during the period. Empowered Funds LLC boosted its holdings in Pangaea Logistics Solutions by 5.1% in the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock worth $1,909,000 after purchasing an additional 17,389 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Pangaea Logistics Solutions by 7.9% in the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock worth $446,000 after purchasing an additional 4,499 shares during the period. 60.23% of the stock is owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL opened at $4.31 on Tuesday. 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 stock has a market capitalization of $282.86 million, a PE ratio of 9.17 and a beta of 0.68. The firm’s 50 day moving average price is $4.95 and its 200-day moving average price is $5.54. Pangaea Logistics Solutions, Ltd. has a twelve month low of $3.93 and a twelve month high of $8.32.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.28%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th.

About Pangaea Logistics Solutions

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.