Pangaea Logistics Solutions Ltd. (PANL) to Distribute Quarterly Dividend of $0.10 on September 15th

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.10 per share by the shipping company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 100.0% increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05.

Pangaea Logistics Solutions has a dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.25 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 160.0%.

Pangaea Logistics Solutions Stock Up 2.0%

Shares of NASDAQ:PANL opened at $8.06 on Friday. The firm has a market capitalization of $527.69 million, a PE ratio of 10.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38. Pangaea Logistics Solutions has a 52-week low of $4.54 and a 52-week high of $9.39. The firm has a fifty day moving average of $7.35 and a 200 day moving average of $7.67.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, August 10th. The shipping company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Pangaea Logistics Solutions had a return on equity of 9.42% and a net margin of 6.70%.The business had revenue of $187.12 million for the quarter, compared to the consensus estimate of $192.76 million. As a group, research analysts anticipate that Pangaea Logistics Solutions will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Pangaea Logistics Solutions by 13.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after buying an additional 351,385 shares during the period. Renaissance Technologies LLC raised its holdings in Pangaea Logistics Solutions by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after buying an additional 185,100 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Pangaea Logistics Solutions by 66.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock valued at $1,479,000 after buying an additional 83,380 shares during the period. Sei Investments Co. bought a new stake in Pangaea Logistics Solutions in the 1st quarter worth $933,000. Finally, Quantinno Capital Management LP grew its holdings in Pangaea Logistics Solutions by 13.2% in the 1st quarter. Quantinno Capital Management LP now owns 86,583 shares of the shipping company’s stock worth $613,000 after acquiring an additional 10,098 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

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.