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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared 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 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 payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.0%

Shares of PANL stock opened at $8.06 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38. The company has a market capitalization of $527.69 million, a price-to-earnings ratio of 10.75 and a beta of 0.79. Pangaea Logistics Solutions has a 52-week low of $4.54 and a 52-week high of $9.39. The company has a 50-day simple moving average of $7.35 and a two-hundred day simple moving average of $7.67.

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

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after acquiring an additional 351,385 shares during the last quarter. Cable Car Capital LP increased its stake in Pangaea Logistics Solutions by 2.1% in the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock worth $4,632,000 after purchasing an additional 20,000 shares during the period. Renaissance Technologies LLC lifted its position in Pangaea Logistics Solutions by 33.0% in the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after purchasing an additional 185,100 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Pangaea Logistics Solutions by 4.3% in the second quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock valued at $3,325,000 after purchasing an additional 29,260 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Pangaea Logistics Solutions by 1,846.9% during the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after purchasing an additional 416,439 shares during the period. 60.23% of the stock is currently owned by institutional investors.

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.