Pangea Logistics Solutions, Ltd. (NASDAQ:PANL – Get Rating) announced a quarterly dividend on Wednesday, November 9, reports RTT News. Shareholders of record on Thursday, December 1 will receive a dividend of 0.10 per share from the shipping company on Thursday, December 15. This represents a dividend of $0.40 on an annualized basis and a yield of 7.75%. This is an increase from Pangea Logistics Solutions’ previous quarterly dividend of $0.08.

Pangea Logistics Solutions has a dividend payout ratio of 22.2%, which means that its dividend is sufficiently covered by earnings. Equity research analysts expect Pangea Logistics Solutions to earn $2.12 per share next year, meaning the company should continue to be able to cover its $0.30 annual dividend. with an expected future payout ratio of 14.2%.

Pangea Logistics Solutions trades up 0.4%

PANL traded down $0.02 during Wednesday’s trading, hitting $5.16. 83,908 shares of the company were traded, against an average volume of 307,018. Pangea Logistics Solutions has a 1-year low of $3.42 and a 1-year high of $7.05. The company has a current ratio of 1.97, a quick ratio of 1.53 and a debt ratio of 0.81. The stock has a market capitalization of $237.39 million, a PE ratio of 2.64 and a beta of 0.67. The company has a fifty-day moving average price of $4.81 and a two-hundred-day moving average price of $5.14.

Pangea Logistics Solutions (NASDAQ:PANL – Get Rating) last released quarterly earnings data on Tuesday, August 9. The shipping company reported EPS of $0.64 for the quarter, beating consensus analyst estimates of $0.37 from $0.27. Pangea Logistics Solutions achieved a net margin of 10.46% and a return on equity of 29.34%. The company posted revenue of $195.54 million for the quarter, versus analyst estimates of $180.79 million. As a group, equity research analysts expect Pangea Logistics Solutions to post earnings per share of 2.05 for the current fiscal year.

Institutional entries and exits

A number of institutional investors have recently changed their holdings in PANL. Bank of America Corp DE increased its stake in Pangea Logistics Solutions by 1,977.9% during the first quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company worth $27,000 after buying 4,569 additional shares in the last quarter. UBS Group AG increased its stake in the shares of Pangea Logistics Solutions by 67.6% in the 2nd quarter. UBS Group AG now owns 7,466 shares in the shipping company worth $38,000 after acquiring 3,012 more shares last quarter. Sei Investments Co. bought a new position in Pangea Logistics Solutions during the second quarter worth approximately $58,000. Engineers Gate Manager LP bought a new position in Pangea Logistics Solutions during the first quarter, valued at approximately $66,000. Finally, Bank of New York Mellon Corp bought a new position in Pangea Logistics Solutions during the first quarter, valued at around $69,000. Institutional investors and hedge funds hold 44.83% of the company’s shares.

Wall Street analysts predict growth

A number of research companies have recently commented on PANL. StockNews.com began covering Pangea Logistics Solutions shares in a research note on Wednesday, October 12. They issued a “hold” rating on the stock. Alliance Global Partners began covering shares of Pangea Logistics Solutions in a research report on Wednesday, August 3. They set a “buy” rating and a target price of $7.50 on the stock.

About Pangea Logistics Solutions

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Pangea Logistics Solutions, Ltd., together with its subsidiaries, provides marine logistics and dry bulk transportation services to industrial customers worldwide. The Company offers various dry bulk cargoes, such as grain, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.

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