ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) dropped 4.5% during trading on Tuesday . The stock traded as low as $48.59 and last traded at $48.65. Approximately 46,143 shares changed hands during trading, a decline of 99% from the average daily volume of 3,516,289 shares. The stock had previously closed at $50.92.
Analyst Ratings Changes
ZIM has been the subject of several recent analyst reports. Citigroup lowered ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a report on Monday. JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $43.60 to $53.30 in a report on Friday, June 17th. Clarkson Capital reissued a “neutral” rating on shares of ZIM Integrated Shipping Services in a report on Tuesday, June 14th. Barclays dropped their target price on ZIM Integrated Shipping Services from $76.00 to $63.00 and set an “equal weight” rating for the company in a research report on Friday, August 19th. Finally, Jefferies Financial Group assumed coverage on ZIM Integrated Shipping Services in a research report on Wednesday, July 20th. They issued a “hold” rating and a $55.00 target price for the company. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.83.
ZIM Integrated Shipping Services Stock Up 0.2 %
The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $48.15 and a two-hundred day simple moving average of $60.10. The stock has a market cap of $5.85 billion, a P/E ratio of 0.95 and a beta of 2.23.
ZIM Integrated Shipping Services Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Monday, August 29th will be given a $4.75 dividend. The ex-dividend date of this dividend is Friday, August 26th. This represents a $19.00 annualized dividend and a yield of 38.94%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.85. ZIM Integrated Shipping Services’s payout ratio is presently 22.10%.
Institutional Trading of ZIM Integrated Shipping Services
Several hedge funds and other institutional investors have recently bought and sold shares of ZIM. Advisor Group Holdings Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 21.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 15,411 shares of the company’s stock valued at $908,000 after acquiring an additional 2,758 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $649,000. Envestnet Asset Management Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 35.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 40,199 shares of the company’s stock valued at $2,366,000 after acquiring an additional 10,592 shares in the last quarter. First Trust Advisors LP bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $3,203,000. Finally, Swiss National Bank bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $5,244,000. Institutional investors own 47.33% of the company’s stock.
About ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
Further Reading
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