Nuveen LLC Acquires New Position in Pangaea Logistics Solutions Ltd. $PANL

Nuveen LLC acquired a new stake in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 113,146 shares of the shipping company’s stock, valued at approximately $539,000. Nuveen LLC owned about 0.17% of Pangaea Logistics Solutions at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Pangaea Logistics Solutions by 469.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock worth $48,000 after purchasing an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth about $54,000. Jacobs Levy Equity Management Inc. bought a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $59,000. Oppenheimer & Co. Inc. bought a new position in shares of Pangaea Logistics Solutions during the 1st quarter valued at about $59,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Pangaea Logistics Solutions by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 2,551 shares in the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PANL. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. B. Riley dropped their target price on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Up 1.7%

Shares of Pangaea Logistics Solutions stock opened at $5.25 on Friday. The stock has a market cap of $342.51 million, a PE ratio of 23.86 and a beta of 0.71. Pangaea Logistics Solutions Ltd. has a 52-week low of $3.93 and a 52-week high of $7.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.46. The firm has a 50-day moving average of $5.06 and a 200-day moving average of $4.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $156.69 million during the quarter, compared to analysts’ expectations of $129.24 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. As a group, sell-side analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Pangaea Logistics Solutions’s dividend payout ratio is currently 90.91%.

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.